Netadmin Raises $6.36 Million

Netadmin Systems, a Swedish maker of automation software for business processes in broadband networks, has raised around $6.36 million in VC funding from Industrifonden and return backer Eqvitec. 

 

PRESS RELEASE

 

Industrifonden becomes an active partner of fast-growing Netadmin Systems, a Swedish company, which develops software that automates business and operation processes in broadband networks. Netadmin's present investor Eqvitec Technology Fund III also has a part in the SEK 40 million funding. The money is to be used for further international expansion of the company, primarily in Europe.

The company's product, NETadmin, is a fully automated system for broadband networks and city networks and has been very well received by the market. The company is the Nordic market leader and has a sixty percent market share in Sweden.

The fully automatic system is very advantageous to end users and broadband network owners alike. Users can, through a portal, choose desired broadband services on their own and access them immediately. It is possible to pick an Internet service provider, for instance, or to temporarily subscribe to a TV channel of choice. To the network owner, the system means that operation costs can be cut in half and/or that existing staff will be able to handle several times the current number of users. The system also offers valuable flexibility when connecting new service providers or launching new services, such as IP telephony and HDTV, in the networks.

Customers include telephone operators, municipalities, electric companies, real estate owners and residential broadband network owners. Examples include Telia, Tele 2, Teracom, Telge N