Antenna Software Raises VC

Antenna Software Inc., a provider of Web and wireless solutions to the mobile and field service industry, is expected to announce today that it recently secured $17 million in its second round of funding, which was led by Polaris Venture Partners, with a $6 million investment Additional investments came from North Bridge Venture Partners, which also put in $6 million, and Dallas-based Hunt Ventures. Antenna’s first round of private angel investors, which committed $2.5 million last January, also joined in the second-round financing.

The funds raised will be used for product development, service delivery, sales, marketing, as well as to build partnerships.

According to company CEO Peter Semmelhack, the best way to look at what Antenna does is to think of the cable industry. “Cable companies first try to solve customer problems over the phone. If that doesn’t work they will send someone out in to the field. Most customers are mad when the rep gets there because they are not satisfied with the outcome. When the rubber hits the road, the delivery of service has had no investments and it is lacking in quality.”

Indeed, the mobile solution industry is not ordinarily a sector that receives much funding but, according to D.F. Blumberg & Associates, is an expanding $200 billion market that has more than seven million workers.

Tim Bajarin, a technology analyst with Creative Strategies, said, “New mobile management technologies are a critical component of next-generation e-customer relationship management programs.”

The New York-based company is reaping the benefits of this expanding market. It has over 20 customers, including GE Capital Information Technology Solutions, Barristers and Maintech. The company has also partnered with Clarify, a Nortel Newtorks subsidiary. Accenture, formerly Anderson Consulting, is an equity partner is the company.

As part of the deal James Brown of Polaris and Rich D’Amore of North Bridge will join Antenna’s board of directors. Antenna’s current management team is made up of individuals from Oracle, Prudential Securities, Lucent, Accenture and PricewaterhouseCoopers.

Contact Danielle Fugazy.