Stockholm-based Telness Tech, a software company for the telecommunications industry, announced on Wednesday, that it has raised €5M from its two largest shareholders — Industrifonden and Viltor (JCE Group).
The Swedish company will use the funds to accelerate international expansion.
Besides funding, the company has swapped operational founder roles.
Telness Tech says it has been experiencing unprecedented growth in the last few months, leading to the restructuring of its executive team.
Two of the founders of Telness and Telness Tech have swapped operational roles to effectively manage the company’s expanding operations.
Jonas Cedenwing, the company’s founder, has taken on the role of Chief Operating Officer and will lead the charge in the company’s international expansion across new continents.
Jonas Cedenwing says, “The pace of our growth has been extraordinary, we registered our US company in December and signed our first two US clients in February. That’s a good start in 2024. We must scale up rapidly to meet the demands of our expanding client base. As I focus all my time on our new international clients in this unprecedented growth, scaling our organisation accordingly, Martina will oversee managing the leadership team and reporting to the board.”
Martina Klingvall, the other founder, has become the CEO of Telness Tech.
Martina Klingvall says, “With our current growth trajectory, it’s essential to have our top talent closely involved in the execution of our operations. As CEO, I will focus on managing the leadership team, while Jonas will lead critical technical aspects and operations, ensuring that our momentum remains as we rapidly enter new markets. We can’t wait to tell you more soon.
Telness Tech: What you need to know
Founded by Martina Klingvall, Carl Sahlin, and Jonas Cedenwing, Telness Tech enables cloud-based mobile operators (MVNOs) and other telecommunications companies to launch fully digital user-centric solutions that maximise customer satisfaction and minimise OPEX (Operating Experience) through full automation.
In November of 2023 Telness Tech implemented 11 mobile operators to run on their software within just six weeks, today those are 18 mobile operators live.
As the only fully automated BSS/OSS platform on the market, the company helps MVNO/E/As cut costs by up to 80 per cent, reduce time-to-market to 2 months, and increase customer satisfaction.
The company has a pipeline worth over 200M SEK in annual recurring revenue and has already signed clients in the US and Europe.
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