Wednesday, June 13, 2012

Openet Completed a $21M Funding

Openet announced that it has "..completed a $21 million funding round (€16.9 million) .. This fourth funding round brings total investment in Openet since 1999 to approximately $55 million .. The Series D financing round was led by NS Solutions, a leading information technology solution provider in Japan and a subsidiary company of Nippon Steel. Existing investors including Balderton Capital, Cross Atlantic and Kreos Capital also participated in the round. The financing includes $16m in equity funds and $5m in long term debt".

According to Infonetics Research "Openet ended 2011 in the lead position in the policy management software market once again" (here). In late 2010, the company was planning to be IPO ready in 2011 - see "Openet Expects Revenues of €75M in 2010 ; Getting Ready for IPO" - here.

"The Company also announced the appointment of Margaret Rice-Jones (pictured) to the Openet Board. As the former CEO and executive director of Aircom International and a director of NewBay, Psion, Abacus Polar and Trivanti, Margaret has a strong track record of managing private and public companies through periods of significant growth and change. She also brings extensive knowledge of the global telecoms and wireless markets".

See "Openet Raises $21 Million in Series D Funding" - here.

1 comment: