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Open-Xchange Eyes Growth with €21 Million Funding RoundOpen-Xchange, market leading provider of open source email, productivity and security software for the service provider industry, has announced that it has secured €21 million funding from Iris Capital and core shareholders including eCAPITAL to support further growth of the company. Over 100 of the world's largest hosting and telecommunications companies including 1&1 Internet, GoDaddy, Italiaonline, KPN, Liberty Global (News - Alert), Proximus, Rackspace and Vodafone deliver Open-Xchange software to more than 200 million consumer and SMB users. The investment will be used to grow Open-Xchange's unique talent base of over 250 experienced specialists, 70 percent of whom work in development, engineering and technical support. This growth will support new business opportunities based on OX's network-side services for DNS and email. These services provide efficient ways to filter malicious traffic, enable effective parental controls and introduce OX's patent-secured email advertising solution powered by Dovecot's IMAP software. In addition this funding will enable Open-Xchange to broaden its relationships with existing partners and gain new customers, especially in the North-America, LATAM and APAC regions. Rafael Laguna, CEO and co-founder, Open-Xchange, commented: "Open-Xchange is one of the fastest-growing poviders of strategic tools for the global service provider community. Globally, we are unique in our ability to support service providers' success. With carrier-grade email solutions and communication services we provide the tools that hosters, telcos and cable companies need to fight off growing competition from OTT providers such as Google and Microsoft (News - Alert). These services add real value for our clients, helping them reinforce their brand and retain customers with an excellent, secure user experience. Open-Xchange is a proven and safe alternative for the many ISPs who have suffered from unreliable, insecure third-party providers like Yahoo." Curt Gunsenheimer, Senior partner at Iris Capital added, "Open-Xchange is a key player in the open source ecosystem and a true European business pride. In fighting for openness, they make the digital landscape secure and transparent for all. We are happy to support such a pioneering company, one that is actively helping the service provider market build efficient and innovative business models. This new funding will fuel Open-Xchange's continuous proven track record of sustainable long-term growth over the past decade." Dr. Paul-Josef Patt, CEO of eCAPITAL entrepreneurial Partners AG, who led this round on behalf of the existing investors, said that, "with this new financing, Open-Xchange is able to prepare crucial investments to fund the initial cost of large future customer mandates. Open-Xchange is a pioneering company with proven expertise in successfully developing its business model. We should expect further impressive achievements from the experienced management team". For more information about Open-Xchange, please visit http://www.open-xchange.com For more information about Iris Capital, please visit http://www.iriscapital.com For more information about eCAPITAL, please visit http://ecapital.de/de/
View source version on businesswire.com: http://www.businesswire.com/news/home/20171011005070/en/ |
