Proceeds Purposes Red Bend will use the new funds for sales and marketing to grow its position in the mobile market as well as seize new opportunities in licensing its software for other connected wireless devices such as mobile broadband PC cards, USB modems, embedded chipsets and M2M modules. The company also will accelerate investment in research and development for its growing software products portfolio, which includes vCurrent Mobile for firmware over-the-air (FOTA) updating, vRapid Mobile for software component management and vDirect Mobile for device management.