Sonim Announces $9M Financing Round, New Board Members and New Executives

SAN FRANCISCO, May 19 /PRNewswire/ -- Sonim Technologies, makers of the world's toughest Xtreme Performance (XP) rugged phones, today announced $9 million in Series 4 financing. The round was lead by Verdoso Industry and Waveland Capital Groups and also included existing investors. The financing will be used to expand sales and marketing efforts globally while accelerating the development of three new phone models that will be announced in 2010.

With this investment, Sonim gains diverse expertise and strong relationships that will help the company continue to grow. Paris based private investment holding Verdoso focuses on middle market direct investments and helps companies either in transition or facing operational challenges. Waveland Capital specializes in investments specific to the information technology industry.

Sonim has also stacked the deck with new Board members, Franck Ullmann from Verdoso, John Allen from Arc Associates and John Giere, Senior Vice President, Product and Marketing at Openwave. Richard Long has joined as Chief Financial Officer.

"Sonim is pleased to work with a world-class group of investors," said Bob Plaschke, Sonim's CEO. "Their deep insight into mobile phone and enterprise market segments will prove invaluable as we continue to grow and diversify our business."

"With its unique technology and commitment to revolutionizing the rugged phone space, Sonim is an outstanding addition to Verdoso's portfolio of technology investments," said Franck Ullmann, Sonim's new Board member.  John Giere noted, "Sonim is uniquely positioned to extend connectivity to environments where people have typically been out of reach. Whether in military, first responder or outdoor environments, Sonim's phones are a vital resource for those in precarious situations."

The funding comes on the heels of Sonim's announcement of the XP2.10 Spirit and XP3.20 Quest Pro, the toughest phones available with an IP67 rating. Both phones are the ideal choice for active users—on a construction site, on an oil rig or climbing a rock face. Like all Sonim phones, the XP3.2 Quest Pro and the XP2.10 Spirit have been tested against Sonim's stringent Rugged Performance Standard (RPS), developed to ensure the highest quality of phones built for harsh conditions and minimal access to electrical outlets.

About Sonim Technologies

Sonim Technologies (www.sonimtech.com) is the leading provider of premium-quality submersible, ruggedized mobile phones designed and engineered specifically for people who work and play in extreme conditions. Sonim's XP family of phones feature outstanding craftsmanship, extreme resilience  as well as an industry-leading unconditional three year guarantee that has redefined consumers' expectations of rugged technology. Sonim also provides a complete end-to-end mobile VoIP platform that delivers high-performance services on GPRS, UMTS, EVDO, WiFi and WiMAX data networks. The company, headquartered in San Mateo, California, has sold phones in over 50 countries and operates in 16 countries.

SOURCE Sonim Technologies

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