Small tech company Validas hopes to soon become something more than a niche startup, and after recently securing a reported amount of funding of up to $100 million, it may be close to accomplishing that dream. So what kind of concept would be so powerful that it could draw that kind of investment? Validas aims to solve one of the biggest problems in the world of mobile service.
"Bill shock." It's something we continue to hear about, no matter how much transparency mobile carriers promise and no matter how much information they offer up front. The platform is called VERA, and it's aimed at a much more profitable target than the average user who might be outraged by $10 here ot $20 there. No, VERA is focused on saving money from Fortune 500 companies where shedding some easily actionable insight might save hundreds of thousands of dollars per month.
The company was started by former Verizon employees Tom Pepe and Todd Dunphy. It's already around five years old, but until now it's just been working to prove that it can actually add serious value. To prove that, it points to one of its biggest clients, the State of California. Thanks to Validas, the state is actually saving $1.25 million per month on its wireless bill. Yeah. Let that sink in for a moment. That is perhaps as much a commentary on the waste that exists in government spending than in the power of Validas, but if it can do the same thing for other huge clients, it certainly has something no one can argue with.