Belfast-based Aepona raises US$10m in VC funding


6 May 201015 Views

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The Belfast-based telco software and services company Aepona today announced a US$10m funding round led by global VC firm BlackBerry Partners Fund.

The investment followed a successful year for Aepona, where revenue grew by 50pc in 2009 with a similarly profitable 2010 expected.

Alongside BlackBerry Partners Fund, the other investors included Amadeus Capital Partners, Polaris Ventures, Innovacom, Nordic Venture Partners and Sutter Hill Ventures.

Founded in 1999 as a spin-off from Dublin-based Aldiscon, Aepona is now a key player in the global telecoms software market and more than 20 Tier One mobile phone operators around the world use its products to power 1.2 billion monthly transactions and deliver US$1bn annual in revenues.

"Aepona’s proposition is constructively aligned with the strategic goals of mobile operators and the company is ideally positioned to capitalise on the major trends that are shaping the future of the mobile industry," said Marc Faucher, partner at BlackBerry Partners Fund.

"Aepona’s solution directly addresses these trends, and it’s for this reason that BlackBerry Partners Fund believes the company is poised for significant growth. We look forward to working with Aepona, and providing insight and support that will help the company realise its full potential in the mobile eco-system," he added.

Alastair Hamilton, chief executive of Invest NI said that the VC investment was an extremely positive development for the company, which has already grown in strength over the years, including a US$10m investment in 2007 that had brought its total VC funding to US$45m at that point.

"Securing this funding round with the BlackBerry Partners Fund will now further strengthen Aepona’s reputation for mobile telecoms innovation and highlight Northern Ireland’s world-class knowledge base," said Hamilton.

By Marie Boran