ProfitLine
Enterprise IT Expense Management | Tangoe, Inc..
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
$243m Valuation: $243m | Acquisition | ||
| Total Funding | 000k | ||
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ProfitLine operated as a provider of Telecom Expense Management (TEM) and Managed Mobility Services (MMS) before its acquisition. The company was established in 1992 by Rick Valencia in San Diego, California. Valencia's entrepreneurial background includes founding several other companies, such as dRx Capital, Capsule, and work with Qualcomm.
The firm specialized in software solutions that enabled enterprise clients to track and manage their communications assets. This included monitoring usage, carriers, and rates for both fixed and mobile communication devices. Its client base spanned various sectors, including retail, financial services, healthcare, automotive, energy, manufacturing, and technology, as well as government entities. ProfitLine's business model focused on providing a comprehensive outsourced solution for managing the entire telecom lifecycle. Over its history, the company secured significant funding, raising a total of $32 million over three rounds from investors like Menlo Ventures and FTV Capital. This capital facilitated growth and strategic acquisitions, such as the purchase of mobile outsourcer FedCel in 2005, which expanded its capabilities in mobility management.
In a significant milestone, Tangoe, a provider of IT and telecom expense management software, acquired ProfitLine on December 19, 2011, for approximately $23.5 million. The acquisition was part of Tangoe's strategy to expand its customer base and broaden its vertical market coverage. Following the acquisition, ProfitLine was integrated into Tangoe's operations, contributing to its revenue and service offerings. Tangoe itself, founded in 2000 by Albert Subbloie, continued to grow through various strategic acquisitions and was later taken private by Marlin Equity Partners in 2017.
Keywords: ProfitLine, Tangoe, Rick Valencia, telecom expense management, TEM, managed mobility services, MMS, telecom lifecycle management, communications management software, IT expense management, enterprise software, FedCel acquisition, mobile outsourcing, FTV Capital, Menlo Ventures, Albert Subbloie, telecom cost control