Sepro announces €3m funding round

Telecom software provider Sepro has announced the completion of a €3m funding round, bringing in new investor AIB Equity.

Existing investor Trinity Venture Capital and a number of private shareholders also participated in the round. This recent round brings total funding in Sepro to date to €14m.

The funding follows an action packed year for the company, which began with Desmond Pieri joining as CEO, industry recognition gained with three awards and culminated in a number of high profile contract wins with Eurotel Praha, Vodafone Ireland, a T-Mobile subsidiary, Credit Suisse First Boston and MobiView and more recently recognition of this success in the Czech Republic with the Taoiseach.

Desmond Pieri, CEO, Sepro said, "The closure of this latest funding round caps a tremendous year for Sepro. In spite of tough market conditions, we have won significant business with mobile operators in Europe and this has firmly established Sepro as a market leader. Bringing AIB Equity on board along with Trinity Venture Capital provides us with additional strength to deliver our growth strategy according to plan."

Sepro is an Irish provider of unified rating solutions for the telecommunications industry. It provides software to enable the telecommunications industry, specifically mobile operators, to generate revenues from existing and Sepro provides software to enable the telecommunications industry, specifically mobile operators, to generate revenues from existing and emerging mobile services, such as multimedia messaging and new lines of business such as WLAN.

In 1999 Sepro pioneered the concept of adjunct unified rating so that mobile operators could profit from the heavy investments placed in next generation networks, devices and services by implementing flexible, value-based pricing and revenue sharing strategies.