Tuesday, November 13, 2007

Comability Raises $6M To Develop A Back Office Management System


ComAbility Ltd has announced a $6 million round raised by Vertex Venture Capital and PE fund Stata Venture Partners.

What is Comability?
Comability developed a subscriber management system for Next Generation Networks (NGN). According to its website, ComAbility's software platform bridges the gap created by the rapid growth of Broadband and Wireless Data Communication Services, due to the increased demand for personalized services, versus the service providers' Operation Support Systems (OSS) infrastructure. Now in plain English, Comability provides the backbone for Broadband Internet, cellular and WiFi providers in a cheaper and more flexible way than other players in the market.

Financing Rounds
The current round was Comability's first, even though it has been around since 2004. Unlike other early stage start ups, Comability has a working product, initial revenue and something that most start ups dream of - it is even profitable.

Existing clients include DSL, cellular and WiFi providers in Israel and abroad. Comability plans to utilize the financing round to grow internationally and develop an additional line of products.

Team
Comability is managed by former VC Alon Fishman and co-founder and CTO Doron Givoni.
With a headcount of 15, Comability is based in Herzliya Israel.
[via]

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