cVidya closes Round C funding for 12 Million Dollars1
Battery Ventures is leading the round along with Carmel, Hyperion, Stage One and Star VenturesLondon, UK, 5th February 2008 cVidya Networks, a global leader of telecom data integrity revenue assurance and dealer management systems, announced today that it has closed a $12m Round C funding round. The company selected an offer from Battery Ventures which is leading the round along with all existing cVidya investors: Carmel Ventures, Hyperion, Stage One and Star Ventures.
This round of funding will enable cVidya to continue with the development of new products developed for the Revenue Management market, to expand its activities in growing markets such as Latin America and USA and to continue its success with Tier 1 telecom operators around the world.
“We are excited to continue with our development plans” commented Alon Aginsky CEO and Founder of cVidya. “We believe that the global opportunities in the Revenue Management space, combined with our growing customer base will allow cVidya to continue to position itself as a world leader. We have successfully deployed our solution with a number of tier 1 operators around the world. The confidence we have seen from the financial sector and particularly from Battery VC and our existing investors is a good indication of our success
Avi Domoshevizki, Partner at Battery Ventures commented: “We have followed the Revenue Assurance space for some time and were very impressed with the progress and success of cVidya especially with the growing list of Tier 1 customers that they are signing. We believe that the company has unique differentiators which will enable growth in new and exciting areas. Battery, one of the largest US based VC’s is delighted to assist cVidya in meeting its goals. “