Company
Redwood Technologies was founded in 2004 with the goal of empowering mobile phone users with the tools they need to make more sense of their phone bill, recover their costs from others, and keep tabs on their mobile activity – all from right there on the handset. The result is momentem™ – a powerful call tagging service for Prosumers.
Like all start-ups, Redwood went through the research phase, identifying Prosumers as the perfect target market, and highlighting the wireless carriers and content publishers as the ideal partners and route to market. The team then built prototypes on real handsets, in conjunction with back-end databases, to prove the concept. With market validation in place, and with strong support from RIM and several carriers, Redwood proceeded to raise funds to complete the solution. Friends and family money was raised in 2005 and 2006, followed by an "angel" round of financing which closed in late 2007. Redwood has used those funds wisely, to secure leading partnerships with some of the biggest names in the wireless industry, and to complete a carrier-grade version of the solution.
With funding in place, the solution complete, relationships secured, Redwood's next phase is growth both in terms of rolling out the solution and geographic expansion to the US and Europe to capitalize on the immediate and longer-term opportunities.
