Telepo, an enabler of enterprise communication and collaboration software platforms, has secured EUR10m in its B round funding from Investor Growth Capital and existing investor Accel Partners.
It is the biggest software investment this year in the Nordics. Mikael Johnsson, vice president at Investor Growth Capital, will join Telepo’s board of directors.
Telepo will use the funding to fuel geographical expansion and to strengthen the breadth and depth of the Telepo Business Communication Solution.
Telepo chief executive Lars Wahlstrom says: "Telepo has been very successful from its start in 2004. Today, our innovative software enables 16 service providers in five countries to offer unified communications as a service via the cloud and they averaged a 280 per cent end user growth last year.”
Investor Growth Capital is the wholly owned venture capital arm of Investor AB, the largest listed industrial holding company in Northern Europe with assets of more than SEK153bn.
Johnsson says: "We are excited to support Telepo with its international expansion. The company has attracted a very strong team and it has a unique product offering that stands out in a market that is really about to take off."
Accel Partners first invested in Telepo in 2006.
Martin Gibson of Accel Partners says: "Telepo’s internet philosophy makes life easier for both enterprises and service providers. It has great power to take enterprise communication into the cloud era."