Open Ocean Capital backs Nordic Telecom

The fresh capital will be used to further Nordic Telecom's international expansion in key markets, particularly in Europe.

Open Ocean was the first majority owner of MySQL AB, which was later sold to Sun Microsystems for $1bn in 2008.

Company
Founded in 2009, Nordic Telecom is headquartered in Espoo, Finland, with operations worldwide. The company is operating unified cloud communication services, which include PBX and call centre solutions, as well as various value-added services such as call-back, reporting & statistics and call management.

In 2011, NTC designed a portal that enables different value-added services for the company's existing contact centre and telephone solutions with no installations or start-up costs. The CMS portal was launched globally in 2012.

NTC's clients include the Stadium sports equipment chain, Sixt Rent a Car Finland, Diacor healthcare centres and Delta Motor Group.

NTC's 2011 turnover stood at €400,000. Turnover for the whole of 2012 is expected to reach an estimated €2m, following a reported €400,000 generated in the first half of the year. Nordic TeleCom currently employs 16 people and will be recruiting around 10 more before Q3 2013.

People
Esa Lahtinen is the founder and CEO of Nordic TeleCom. Open Ocean is led by CEO Patrik Backman and partners Ralf Wahlsten, Tom Henriksson and Michael Widenius.

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