Last month, Schema, a provider of software and services for wireless network management, opened a new office in Hong Kong, its fifth worldwide location, to support expansion into Asia Pacific. The growth, according to CFO Hanan Miron, is being supported through internal resources, as the company has been profitable for the last few quarters.

The company ended the 2002 calendar year with $19 million in revenue and is on target to beat the milestone by 20% this calendar year. "We don`t foresee need to raise private capital," said Mr. Miron. Among its customers are Cellcom Green Bay, Cellcom Israel, Pelephone, US Cellular, and Verizon Wireless.

Schema has raised $38 million since it was founded in January 1995. Its investors include BRM Capital, Challenge Fund, Docor International, EnerTech Capital Partners, Eurofund, Gemini Israel Fund, TL Ventures, and Walden Israel.

The company is based in Herzlia, with offices in Hong Kong, London, Tokyo, and Rochelle Park, N.J. It employs 140.

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Credit: Venturewire