Periscope Equity announced today the launch of Brightfin, a new company formed from recent acquisitions of MobiChord, Visage, and Mobile Solutions. Brightfin provides a unified platform to manage mobile, telecom, and cloud expenses, offered natively through ServiceNow or as a SaaS solution.
“We didn’t want to make the same mistake we’ve seen others make by trying to stitch our technologies together,” said Ed Roshitsh, CEO of Brightfin. “Many M&A deals in this space end up with a Frankenstein-like platform that requires multiple sign-ons, poor communication between systems, and a disjointed client experience. By going ‘all in’ on our strongest piece of technology, we cut months out of the typical integration cycle and focused that time on expanding our capabilities to serve a wider IT finance management audience.”
Brightfin’s leadership team includes all three former CEOs of MobiChord, Visage, and Mobile Solutions along with additional hires such as Marjorie Adair (chief financial officer), Chris Kinsella (SVP of sales), and Keith Jensen (chief marketing officer).
“We always knew that the next evolution for MobiChord would be into the ITFM space,” said Herbert Uhl, former CEO of MobiChord. “Traditional TEM has always been about lowering carrier costs, whereas we believe that’s only a small part of the value proposition a powerful IT expense management platform can offer.”
“Imagine knowing exactly how much of your IT spend is going to each business initiative,” says Mani Zarrehparvar, former CEO of Visage. “That’s the power we’re putting in our clients’ hands. Gaining that IT expense visibility is the first step to effectively driving organizational change.”
“For years, we’ve seen shocked faces from mobility managers when we expose and quickly optimize wasted spend across their network of mobile devices,” said Jim Johnson, former CEO of Mobile Solutions. “We expect to see a lot more shocked faces when IT and Finance executives find out how much spend is going to initiatives or departments that aren’t aligned to their company growth goals.”