Telness raises €8,5m in Series A led by Industrifonden, to expand digital telecom offering across Europe
We are delighted to announce our latest investment in Telness Tech (Nordic Communications Group) and our backing of Martina Klingvall and team on their journey to challenge the standards of the telecom industry. The €8,5m Series A funding is led by Industrifonden, backed by existing investor JCE Group and will be used to expand Telness Tech to new markets, starting with the Netherlands and the UK.
Founded in 2016 by telecom executive turned entrepreneur, Martina Klingvall, Telness set out to transform the industry by offering cloud-based infrastructure to businesses in order to increase customer happiness and lower operational expenditure. In a market traditionally lacking innovation, Telness has the potential to disrupt the telecom market in the same way that fintech changed finance.
The Telness platform delivers telecom services to well over 15,000 business customers in Sweden and provides a cloud-based, digital end-to-end solution that liberates traditional telcos from legacy infrastructure, cost and complexity. Its cloud-based PBX enables telcos to keep up with the innovation and pace of challenger brands at a low total cost of ownership. Telness is currently working with three large telecom customers, whereof two already launched Telness cloud PBX across its platform.
Martina Klingvall, founder of Telness said: “We’re incredibly excited to have such fantastic investors on board as we continue to grow Telness across Europe. Our platform has already started to transform how services are delivered to end customers – putting customer service first, and raising the bar for what people should expect from a mobile provider. Over the next year we’ll be laser focused on investing more into the team and making some key strategic hires, plus our expansion into other European markets.”
“We’re beyond delighted to invest in Telness, enabling them to take their industry challenging ethos further into the market. We’ve no doubt that with their talented team, the right investment and clear aspirations Telness will continue to grow into new markets across Europe at a rapid rate”, said Tore Tolke, Senior Investment Director Industrifonden.
Read more in DI today.