Citel Gets $7M

Citel receives $7 million to expand IP and SIP gateways

September 16, 2004

2 Min Read

SEATTLE -- Citel Technologies, a global provider of IP telephony and communications solutions, today announced the closing of a $7 million funding round led by Doughty Hanson Technology Ventures. Citel's other principal investors also participated in this round, including Aberdeen Murray Johnstone Private Equity, Advent Venture Partners, Albany Venture Managers Ltd, Gartmore Investments and Hexagon Investments. The proceeds of this round will be used to fuel further growth and development of Citel's market leading CITELlink(tm) Handset Gateway product family.

"We're in the business of investing in people and building solid companies that address a real market need," says Jerry Ennis, a partner at Doughty Hanson Technology Ventures. "Citel Technologies has a proven management team, a unique and innovative technology platform, and a strong focus on execution. Citel's Handset Gateway solves several major migration and return on investment (ROI) issues facing corporate telecom executives today and we see a great deal of potential in this market."

The CITELlink Handset Gateway is a rack mountable, 24-port network appliance that effectively converts a customer's existing digital PBX telephones into Internet Protocol (IP) telephones for use with a new IP PBX or hosted IP telephony service. The CITELlink Handset Gateway offers customers a simple and cost effective migration to IP telephony, providing all the advanced features of a next-generation telecommunications network, but with easier implementation, extended use, and new functionality for traditional digital telephones.

"We are delighted to welcome Doughty Hanson Technology Ventures as an investor in Citel," says Michael Robinson, Citel's CEO. "We are pleased to have the support of a prestigious group of investors who share our vision and embrace our efforts to simplify and accelerate the market's migration to IP telephony."

Citel Technologies Ltd.

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