Swedish company op5 AB goes international and raises 21 million SEK in new capital from venture capital firms Pod Holding and KTH Seed Capital!
op5, an open source based product & service development company, announces today that the company has secured further funding of 21 million SEK, which will be used to drive the international expansion.
Jan Josephson CEO of op5 AB:
When we started the company in 2003 we could not even dream about the speed and growth that we now have. In a few years on the market we have established a solid and fast growing market in Sweden. We have large and small enterprise customers as well as governmental. The need for better control and quality in the IT systems is a global trend following the broad acceptance of technology shifts like IP voice, in or out sourcing etc. And the old providers of monitoring and management systems are considered non flexible and have very expensive solutions and as such just not right for many IT organisations.
We have seen a number of our international customers taking our systems and services out to their subsidiaries with great success and this encourage us to start an international expansion.
Adding Pod Holding to our existing financial partner KTH Seed Capital adds practical international growth experience.
Johan Pontin CEO – Pod Holding:
op5 is an exciting company addressing an old problem with new technology and as such targeting a large and broad market. The IP services are getting more advanced and distributed and as such the need for control and quality is key for any organisation that is depending their business on its IT systems. Adding the fact that op5 utilises and drive their product development on open source only strengthen the value proposition to the customers.
op5 have developed a set of products and services that controls the uptime and quality of the complete IT system. By seeing, monitoring and logging the whole IT system including the infrastructure, applications and traffic flows in to the same system, greatly reduces resources, enhances priorities and improves the overall quality.
For more information, please contact:
Jan Josephson, vd op5 AB, telefon +46 8 23 02 28, mobile +46 707 25 09 00, e-mail jan.josephson@op5.se
Johan Pontin, vd Pod Holding, +46 8 545 064 60, e-mail johan.pontin@podholding.com
Pod Holding
Pod Holding is a private equity firm located in Boston and Stockholm that invests in leading Information and Communication Technology (ICT) companies.
Founded in 2000, Pod Holding’s deep domestic presence and investment activity in both the US and Nordic countries provide unique knowledge, insights and opportunities for successful company-building in each region. When combined with Pod’s experienced team of investment professionals and strong global relationships across the ICT industry, the result is a unique US-Nordic franchise that drives growth and value for Pod Holding’s portfolio companies and partners.
KTH Seed Capital
The KTH Seed Capital Investment fund was founded in October 2002, by a group of Swedish institutional investors and The Royal Institute of Technology (KTH).
KTH Seed Capital is a 127 MSEK VC fund focusing on early stage technology start-ups. We invest in exceptional people with outstanding technology. We assist the entrepreneur with industrial and business development competences. Our unique position of having an extensive academic network combined with an industrial and financial network enables us to empower the entrepreneur to fulfil his or her vision.
KTH Seed Capital was founded with the objective of becoming one of Sweden’s leading investors in the early phases of commercially viable entrepreneurial projects based on unique technology.