Outsmart Raises $17M

Fixed-mobile convergence applications provider Outsmart raises $17M in new round of financing

May 9, 2005

2 Min Read

TEL AVIV -- Outsmart Ltd, a provider of complete Fixed-Mobile Convergence (FMC) and Intelligent Networks (IN) based solutions announced today that they have secured $17 million from leading venture capital firms, including Accel Partners, Gemini Israel Funds and Magnum Communications fund. Outsmart will use the investment to expand its sales and marketing activities World-wide.

Outsmart has already started deploying the SmartFMCTM solution to several major European operators and will use the investments to support the growing demand and interest in SmartFMCTM Solution. The SmartFMCTM solution allows operators to offer the same services across all networks and devices irrespective of location, access technology and terminals and provides a complete convergence of services, networks and devices to both fixed and mobile users. With Outsmart, telecom operators can have new services up-and-running within a short time, while utilizing existing infrastructure and making the most of their existing technology.

"We are very excited to have secured funding from these leading investors”, said Eran Dotan, CEO of Outsmart. "This significant investment will enable us to support new markets and growing demand for our solution by expanding our activities and to become the leading provider of FMC solutions by the end of 2005."

"The Outsmart team has the ability to incorporate leading technological capabilities with a savvy and innovative understanding of the market, said Avi Hasson, General Partner at Gemini Israel Funds.” We believe that FMC will gain real momentum this year, and that Outsmart is well positioned to take advantage of this momentum and become a leading provider of FMC solutions."

"We decided to invest in Outsmart after examining many companies and saw that Outsmart has the expertise to allow mobile and traditional operators to enter the VoIP market," said Kaj-Erik Relander, General Partner at Accel Partners. "We are excited about the opportunity to help take them to the next level."

"Outsmart has made significant progress in both its technology and sales over the past year, said Modi Rozen, Managing Partner of Magnum Communications Fund." We are happy to continue investing in Outsmart and believe that the company will play a pivotal role in the emerging fixed mobile convergence market."

Outsmart Ltd.

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