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Nordic TeleCom has Raised $1,3M in Funding

ESPOO, Finland, December 11, 2012 /PRNewswire/ --

Nordic TeleCom, a Finnish unified cloud communication provider, today announced receiving $1,3 million in Series A funding from Open Ocean Capital, a leading investor in European technology start-ups.

Nordic TeleCom provides unified communication solutions as a cloud service. The services include PBX and Call Center solutions, and various value added services such as Call-back, Reporting & Statistics and Call Management. The services don't require any investments in hardware, software or installations.

The funds will further boost Nordic TeleCom's international expansion in key markets especially in Europe. The partners of Open Ocean have a background in MySQL AB that was sold to Sun Microsystems for $1B in 2008.

"With the funding and strong support from Open Ocean we will be able to further expand our international operations, and realize our vision of making the newest and most advanced cloud based communication technologies accessible to any business in the world", says Esa Lahtinen, CEO and Founder of Nordic TeleCom.

"Nordic TeleCom's popularity among the customers and the strong growth have really impressed us", says Patrik Backman, CEO of Open Ocean Capital.

About Nordic TeleCom

Founded in 2009, Finnish company Nordic TeleCom (NTC) is at the forefront of unified communication services. In 2011, NTC launched a unique portal that enables - with no installations or start-up costs - different value-added services for the company's existing contact center and telephone solutions. NTC's clients include the Stadium sports equipment chain, Sixt Rent a Car Finland, Diacor healthcare centers and Delta Motor Group.

http://www.nordictelecom.fi

About Open Ocean Capital

Open Ocean is a leading early-stage venture capital firm focusing on European start-ups with large user-bases and developing enterprise software. Open Ocean was the first major owner of MySQL AB, which was later sold to Sun Microsystems for $1 billion in 2008. Open Ocean leverages its direct experience as the founders of MySQL to provide hands-on support to the management of companies receiving Open Ocean's funding. Open Ocean is led by partners Patrik Backman, Ralf Wahlsten and Tom Henriksson, and by "community and open-source wizard" Michael "Monty" Widenius, the original developer of the MySQL database and co-founder of the company MySQL AB. http://www.openoceancapital.com

Contact
Nordic TeleCom Ltd
Pietari Paivanen: +358-50-543-3292, pietari.paivanen (at) nordictelecom.fi

Open Ocean Capital Ltd
Patrik Backman: +358-40-5075024, patrik (at) openoceancapital.com

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