Enterprise Communication Company Telepo Accelerates Growth With New EUR10M Funding

STOCKHOLM, August 25, 2010 /PRNewswire/ -- Telepo AB, the award winning enabler of Enterprise Communication and Collaboration software platforms, has secured EUR10m in its B round funding from Investor Growth Capital and existing investor Accel Partners. It is the biggest software investment this year in the Nordics and Vice President Mikael Johnsson at Investor Growth Capital will join Telepo's board of directors.

Telepo will use these new resources to fuel an accelerated geographical expansion and to further strengthen the breadth and depth of the Telepo Business Communication Solution.

Telepo CEO Lars Wahlstrom said: "Telepo has been very successful from its start in 2004. Today, our innovative software enables16 Service Providers in five countries to offer Unified Communications as a Service via the Cloud and they averaged a 280 per cent end user growth last year.

"Telepo's unique solution brings it all together both for business users and Service Providers. Business users benefit from our rich feature set through a single consistent experience across all device types including mobiles, PCs, Macs and deskphones. Service Providers increase revenues and also benefit from our complete cloud enabled platform that has an unparalleled short time to market launch, just four months for a Telco, as well as operational excellence over time."

Investor Growth Capital is the wholly owned venture capital arm of Investor AB, the largest listed industrial holding company in Northern Europe with assets of more than SEK153 Billion.

Investor Growth Capital VP Mikael Johnsson said: "We are excited to support Telepo with its international expansion. The company has attracted a very strong team and it has a unique product offering that stands out in a market that is really about to take off."

Accel Partners has a history of supporting innovative companies such as Facebook, Admob, Macromedia and Playfish. It first invested in Telepo in 2006 and its continued excitement is shown in this latest round of funding.

Accel Partners Martin Gibson said: "Telepo's Internet philosophy makes life easier for both enterprises and Service Providers. It has great power to take enterprise communication into the cloud era."

Notes to Editors

About Telepo

Telepo is a leading software provider enabling any Service Provider to offer Unified Communication and Collaboration "as a Service" to Enterprises. Telepo's innovation and thought leadership has been recognized in the industry leading to awards such as Gartner "Cool Vendor in Wireless and Mobile" and GSMA "Best Mobile Enterprise Product". Telepo AB is a privately held company founded in 2004 and headquartered in Stockholm, Sweden.

About Accel Partners

Founded in 1983, Accel Partners is a venture capital and growth equity firm dedicated to partnering with outstanding entrepreneurs to build world-class businesses. Accel invests globally using dedicated teams in each local geography, with offices in Palo Alto, London, New Delhi, Bangalore as well as in China via the IDG-Accel Partnership. With over $6 billion under management, Accel has helped entrepreneurs build over 300 successful companies, including Acopia, AdMob, Alfresco, Arrowpoint, BBN, Brightcove, ComScore, Etsy, Facebook, Gameforge, GlamMedia, Groupon, Interwoven, Kayak, Macromedia, metroPCS, NextG Networks, Polycom/PictureTel, Portal Software, QlikTech, Real Networks, Riverbed, UUNet, Veritas, Walmart.com, Webroot, XenSource and Zimbra.

About Investor Growth Capital

Investor Growth Capital is the wholly-owned venture capital arm of Investor AB. Investor Growth Capital was formed in themid-1990's to invest in high quality, growth-oriented companies, primarily in the IT and Healthcare industries. Today, the main focus remains within these areas for later stage venture investments in new technologies and products. Operations are conducted from Amsterdam, with advisory support from our offices in the New York, Menlo Park, Stockholm, Beijing and Hong Kong, with a total of more than 30 investment professionals managing a portfolio whose value exceeds USD 1 billion.

SOURCE Telepo AB