Visto Punches Up $31M Deal

Hoping to capitalize on the pervasiveness of personal digital assistants, Visto Corp. is expected to announce today that it has completed a $31 million round of financing. The Mountain View, Calif.-based company, which provides enterprise and carrier mobility software and services, has now raised more than $95 million in venture capital dollars since its inception in 1996.

New investors WaldenVC and Rustic Canyon Ventures co-led the round, and were joined by Bessemer Venture Partners, New Enterprise Associates, GE Asset Management, Allegis Capital, Novus Ventures and Wheatley Partners.

Steve Eskenazi, a general partner at WaldenVC, and Tom Unterman, a managing partner at Rustic Canyon, received a pair of Visto board seats as part of the financing.

Visto’s claim to fame is that it offers corporations a secure way to provide on-the-go employees with synchronized access to corporate e-mail, calendars and contact information from a wide range of PDAs and wireless devices.

As such, it’s already gaining traction with some pretty hefty customers. General Electric Co. recently signed a three-year contract to deploy Visto’s solution at all of its locations worldwide. The company also has an exclusive provider agreement with Handspring Inc. to provide individual users of Handspring’s Treo product with remote access to corporate messaging.

Additionally, Visto has also signed on as strategic partners Kyocera Wireless Corp., Motorola Inc., Qualcomm Inc. and Verizon Wireless.

Visto’s solution currently supports more than 2.5 million users.