Openet Raises $10.5M

DUBLIN -- Openet, the leading provider of Transactional Intelligence for the world’s largest and most innovative network service providers, today announced that it has completed a $10.5 million funding round (€7.2 million) to enable expansion for sales and marketing, growth in regional markets and new strategic investments.

The funding round was led by Cross Atlantic Capital Partners and Enterprise Ireland. Balderton Capital and Cross Atlantic Capital Partners have previously invested in Openet, and also participated in this round of funding. As a result of this fundraising, Paul Sutton, managing partner at Cross Atlantic Capital Partners, will join Openet’s Board of Directors.

“As an established market player, Openet has exhibited tremendous growth around the world,” said Sutton. “With the continued support of its shareholders and the new addition of Enterprise Ireland, we believe that Openet has presence as a truly global company and is setting the stage for continued global expansion.”

Openet Telecom Ltd.