Telecom Pioneer Tribold Receives Further Investment From Eden Ventures
Funding From £50 Million Private Equity Fund Will Accelerate Expansion Of Operations And Customer Acquisition
London, 30 March 2006
Tribold, the product lifecycle management software applications provider, today announced a further round of investment capital from Eden Ventures. The funding will come from the £50 million 'Eden One' early stage technology private equity fund and follows initial investment by Eden Ventures in Tribold last July.
Tribold has fast developed into a leader in the telecommunications market by providing the only combined product data management (PDM) and product lifecycle management (PLM) application, allowing communications service providers to deliver the right product to the right customer at the right time.
"Tribold is the most exciting company in this area of the telecommunications market," said Mark Farmer, Partner, Eden Ventures. "The company is vast gaining traction with some of the world's largest communications services companies as they see the clear advantages of its approach to product management. Tribold is solving one of the sector's most pressing challenges."
Simon Muderack, CEO of Tribold, said the company was embarking on a rapid expansion drive as it secured major communications service providers as customers. Further investments would be made in product development and customer management.
"The communications industry is undergoing colossal changes and that has put the spotlight on product performance. Communications service providers need a 360 degree view of their products in order to speed time to market and maximise product success. Competitive pressures have previously meant that many products go through their lifecycles relatively unchecked, but this cannot continue without sacrificing competitive edge. This is the challenge to which Tribold has the ideal solution - the marriage of product data management and product lifecycle management," said Muderack.
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