Israeli VCs back telecom service provider

ComAbility, a telecoms service provider, has raised a further US$4m in an extended funding round from 2007, taking up the total amount to US$10m.

The company, which has headquarters in both Israel and Silicon Valley, raised the money from Israeli VCs Stata Ventures and Vertex Venture Capital.

The business works by enabling telecoms companies and internet service providers to reduce costs and more quickly deploy new services, like mobile, wireless or wireline data services. It streamlines the process by which revenue generate by these services can be measured, meaning service providers can more quickly respond to customer demands.

Vertex Venture Capital managing partner Moty Ben-Arie said: “The ComAbility solution speaks to service providers, who need to deploy personalized services to monetize their infrastructure investments, but who are deterred by the sometimes overwhelming complexity of the underlying network requirements. ComAbility’s success in acquiring major new customers and in building a healthy pipeline in these times contributed to our decision to increase capacity in order to better accommodate the opportunities.”

The funding around held its initial closing in November 2007.