CIQUAL, closes significant round of funding from global parties
CIQUAL, an international mobile broadband customer service solution closes significant round of funding
Investment round includes funding from Tomorrow Ventures
Edinburgh, SCOTLAND – February 8, 2011 – Ciqual, an Edinburgh, Scotland based leader in mobile broadband customer service solutions has closed its latest investment round with significant funding from multiple parties across the globe. Investors including Tomorrow Ventures, a Palo Alto-based fund, and One97 Communications Limited, a leading provider of telecom value added services in India, as well as current Scottish investors, Par Equity and the Scottish Investment Bank have banded together recognizing the value of Ciqual’s mobile technology solutions.
This latest round of financing will enable Ciqual to promote and distribute more widely their innovative, patented technology, Session Insight, which delivers the most accurate, real-time, dynamic view of mobile broadband service and user experience. With this insight, mobile operators can deliver an unrivalled mobile broadband service performance, assure the operation of their network and provide superior care that delights their customers.
“We are thrilled that multiple investors have come together to recognize and support Ciqual. With our current customers already benefiting from our capabilities, this investment enables Ciqual to promote and deliver our solutions to a larger international user base,” said Tom Walls, CEO for Ciqual.
“Our belief is that Ciqual is well positioned to become the market leader in this growing and important market sector,” says Court Coursey, Managing Partner of TomorrowVentures.
Talking about the investment, Vijay Shekhar Sharma, Chairman and Managing Director of One97 Communications Limited said ‘‘Mobile broadband and smart phone ecosystem requires whole customer experience to be built from bottom up. We are excited to partner Ciqual and be part of its success.”
Ciqual’s mobile broadband solutions provide increased intelligence of the user experience, allowing sales teams to proactively manage and report on individual and enterprise customers, marketing teams to improve their delivered services and customer care to offer a superior service. With these unique insights, customer satisfaction is increased, customer loyalty is maximized and customer retention strategies are strengthened.
Ciqual enables Mobile Operators to improve their data services through actual knowledge of the customer experience. Ciqual combines direct selling with a series of channel partner relationships, including a worldwide channel partner agreement with Nokia Siemens Networks. Current customers include Mobile Operators in the UK, Italy, Spain, China and Australia. For more information, please visit www.ciqual.com
TomorrowVentures is an opportunistic investment firm with a global focus toward seed and early-stage venture capital investments that develop innovative ideas that have the power to change the way people live, interact, and thrive. For more information on TomorrowVentures visit http://www.tomorrowvc.com. TomorrowVentures investment in Ciqual was sourced by David Farquhar of Northface Ventures, TomorrowVentures’ representative in Scotland.
One97 is a leading provider of telecommunications value added services to telecom service providers, consumers and enterprises in India. One97’s mobile content, messaging, commerce services and made-to-order network applications offer new revenue streams to telecom service providers. www.one97world.com.
About Par Equity
Par Equity, based in Edinburgh, Scotland, is a venture capital firm providing financial and intellectual capital to innovative small and medium-sized companies with high growth potential. For further information, please visit www.parequity.com
About Scottish Investment Bank
The Scottish Investment Bank is a division of Scottish Enterprise which operates Scotland-wide, in partnership with Highlands and Islands Enterprise. It operates a suite of investment funds including; The Scottish Seed, the Scottish Co-investment and the Scottish Venture Fund to support Scotland’s SME funding market to ensure that both businesses with growth and export potential have adequate access to growth capital.