On the heels of announcing its acquisition of Openera, Ottawa's LiveQoS announced today it has closed a $4 million Series C round of financing led by Miralta Capital.
The funds will be used for development and launch of LiveQaaS, a mobile Quality as a Service platform.
"LiveQoS's traditional deployment model is on-premise. Now we've built the powerful capabilities of our IPQ™ QoS framework to be delivered as a service," explained LiveQoS® CEO, Martin Horne.
"This will enable us to meet the growing demands of mobile app developers and mobile device manufacturers who want to deliver the best quality of experience to their end-users. We are already working with some well-known companies and are excited for our further development."
"The concept of mobile Quality as a Service® just made sense. We know this has enormous market potential and is a sound investment," said Tom Kaneb, Managing Director from Miralta Capital. "The bar is being set increasingly high in mobile. Users expect apps to run smoothly, react responsively, and without lag. LiveQaaS can help app developers deliver on that user expectation."
Miralta Capital is one of Canada’s oldest and most successful private equity investment firms with over 30 years of investing experience.