Advent and No 8 Ventures invest £1m in OpenCloud

The existing investors are joined by Nokia Siemens Networks that provided the remaining £4m. Advent Venture and No 8 initially backed OpenCloud in 2007 by participating in a £5.2m early-stage round; they followed up in 2008 with an additional £5m investment.

The new capital will be used to further OpenCloud's international expansion. It will also allow the company to extend its partner and application portfolios, as well as accelerate the development of future products.

Headquartered in Cambridge, OpenCloud was originally founded in New Zealand in 2000. Its main product, the Rhino technology, provides the telecommunications industry with a real-time application server for agile development, deployment and efficient management of person-to-person communications services across current and next generation network technologies.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

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