RiPSIM Technologies – the makers of the world’s first software platform for on-demand generation and delivery of authentication data for mobile networks – announced a $5 million Seed Series funding round led by cybersecurity-focused Ten Eleven Ventures. This funding will fuel the expansion of RiPSIM’s eSIM-as-a-Service management platform, a new solution that modernizes the eSIM generation and delivery process.
By using the RiPSIM platform, carriers and network operators gain full control over the entire identification process, so they can more securely and easily authenticate subscribers to their networks on demand and expand and grow their business in new ways.
The demand for eSIMs is high. After Apple declared in 2022 that all its North American smartphones will only have eSIMs starting with iPhone 14, the transition to eSIMs accelerated. Additionally, 5G mobile phone subscriptions are expected to rise, meaning many IoT connections will require eSIMs worldwide in the coming years.
Malte Pollmann (the former CEO of Utimaco), a global provider of cybersecurity and compliance solutions and services and member of the Strategic Advisory Board of Ten Eleven Ventures, will join the board of RiPSIM.
This announcement marks a milestone year for RiPSIM. The company has expanded its customer base and expanded into military and government verticals, Tier One carriers, private network operators, MVNOs and travel SIM operators. And recently announced customers include GigSky, a leading provider of eSIMs for international travel; mobi, a popular wireless provider in Hawaii; James Valley Wireless (JVW), a South Dakota-based telecommunications company serving largely rural customers; and SEMPRE, a Colorado-based company dedicated to securing critical infrastructure.
KEY QUOTES:
“RiPSIM transforms the creation and delivery of an overlooked aspect of digital identity authentication in our daily lives. eSIMs are the least understood part of the wireless network and require deep domain expertise to build and manage. As an investment company specialized in cybersecurity, we are very interested in innovative ways to expand this critical security layer in an efficient and inexpensive way. Even more exciting is to imagine what new offerings just-in-time eSIMs will unleash for carriers and their customers as the adoption of 5G networks and the architectural changes that come with them simultaneously permeate the mobile ecosystem.
-Alex Doll, co-founder and managing partner of Ten Eleven Ventures, who now joins the board of directors of RiPSIM
“The current method of manufacturing and supplying SIM cards and eSIMs is outdated and relies on old technology and largely labor-intensive processes. Currently, carriers and network operators wait months for the eSIMs they need to authenticate subscribers on their networks. By modernizing and integrating the entire eSIM lifecycle management, RiPSIM’s patented cloud-based platform disrupts this outdated process. And by putting the creation of eSIMs in the hands of customers, RiPSIM opens new areas of product and market expansion for carriers, mobile network operators and enterprises.”
-Malte Pollmann
“We welcome the support and confidence of Ten Eleven Ventures as we work to bring our breakthrough solution to customers large and small, wherever they are in the world. RiPSIM has used our deep knowledge and years of experience in the SIM world to completely reimagine how eSIMs should be created and managed. By making eSIMs simple, fast and affordable, our eSIM-aaS platform enables carriers and mobile network operators to manage their own credentials, eliminating dependence on third parties and enabling them to establish and expand entirely new markets. enter.”
-Chris Jahr, CEO and co-founder of RiPSIM
“RiPSIM has created the opportunity for us to have a fully sovereign eSIM, which was a key missing piece in our communications and edge cloud solution. RiPSIM is the only company we know of that can provide this level of security and control over such a vital part of wireless technology.”
-Rob Spalding, CEO of SEMPRE, retired US Air Force Brigadier General and former White House National Security Council Senior Director for Strategic Planning
