Young Associates backs $10m round for XConnect

Ellie Pullen
27 June 2013

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Young Associates and existing investor Crescent Group have taken part in a $10m funding round for XConnect, a provider of federation-based interconnection and registry services.

The fresh capital will be used by XConnect to enter new markets, as well as expand its product portfolio and customer base.

Specifically, the company is planning to deliver video and unified communication services to its clientele and develop a portfolio within the security and cloud-based solution sectors.

Previous funding
In April 2007, XConnect received $12m in a series-A funding round that saw Accel Partners, Ant Capital Partners, Grazia Equity and Venrock Ventures invest in the company. Following this in September 2009, Accel, Grazia and Venrock provided fresh capital to the company alongside new backer Crescent Capital in a $10m funding round.

Company
Founded in 2005, XConnect provides Federation-based interconnection services for IP-based multimedia communications. Via its Enum registry and IPX hub technology, the company provides video and IP voice communications across platforms. XConnect's services operate federations in Germany, the Netherlands, Scandinavia and Korea.

The company is headquartered in London with additional offices in the US, Asia, Africa and the Middle East. It employs approximately 55 staff and recorded turnover of £9.3m for 2011.

People
Eli Katz is the founder and CEO of XConnect. Young Associates co-founder and director Yoav Kurtzbad and co-founder and partner Simon Alberga are joining XConnect's board of directors following the transaction.