Software company Tribold, which make products for the communications industry, has received a multi-million pound investment from two venture capitalists.
In a series B funding round the company gained $15m (£7.6m) from Esprit Capital Partners and existing investors Eden Ventures.
As part of the investment, Esprit Partner Nic Brisbourne will be joining the London-based company’s board.
The investment represents a key milestone in the growth and development of the company and will help it to expand its sales and support activities.
It will also help develop its application software for Communication Service Providers.
“Securing this level of investment marks the start of another exciting chapter in the company’s history and will allow us to build on and further increase the momentum we have built up in the market,” said Simon Muderack chief executive of Tribold.
“We are entering an important phase in our business development and I am delighted to have such strong and experienced financial partners.
“Esprit represents another critical blue chip partnership for us, complementing our existing VC, Eden Ventures, who have already added considerable experience and momentum to the business and will continue to do so going forward.
“Furthermore, Nic joining the already experienced board will add his extensive wealth of expertise and business acumen.”
© Crimson Business Ltd. 2007
