James Bagnall: Martello raises $3M on back of Mitel-Aastra merger
September 10, 2014
When Niall Gallagher learned last November that there was to be an all-staff meeting at Mitel, he snuck into the room to hear the news. The native of Ireland four years earlier had co-founded a telecom software startup, Martello Technologies, which did a lot of business with Mitel, his former employer. Gallagher liked what he heard.
Investment will accelerate product creation, targeting the $11.7B global market for IP Telephony and unified communications. Martello sales expected to double again over the next 18 months.
OTTAWA, ON – September 11, 2014 – Martello Technologies, the leading provider of fault and performance management capabilities for cloud-based Unified Communications (UC) solutions, announced today the closure of an investment round totalling $3,000,000 in common equity. Already backed by seed investor Wesley Clover International, the investment management firm and holding company of Sir Terence Matthews, Martello now welcomes a group of sophisticated investors and funds attracted by Martello’s market opportunity and significant 2014 growth.