RSSTelecom Pioneer Tribold Receives Further Investment From Eden Ventures
29 March 2006
Tribold, the product lifecycle management software applications provider, today announced a further round of investment capital from Eden Ventures. The funding will come from the ?50 million ‘Eden One’ early stage technology private equity fundand follows initial investment by Eden Ventures in Tribold last July.
Tribold has fast developed into a leader in the telecommunications market byproviding the only combined product data management (PDM) and product lifecycle management (PLM) application, allowing communications service providers to deliver the right product to the right customer at the right time.
Eden Ventures’ proactive approach to early stage technology investment seeks to exploit opportunities created by specific areas of ‘disruptive’ technology – commercial propositions that represent a sea change in the way that specific business challenges are addressed. It has vast experience in this market, including in the development of Apertio and Cramer Systems.
“Tribold is the most exciting company in this area of the telecommunications market,” said Mark Farmer, Partner, Eden Ventures. “The company is vast gaining traction with some of the world’s largest communications services companies as they see the clear advantages of its approach to product management. Tribold is solving one of the sector’s most pressing challenges.”
Simon Muderack, CEO of Tribold, said the company was embarking on a rapid expansion drive as it secured major communications service providers as customers. Further investments would be made in product development and customer management.
“The communications industry is undergoing colossal changes and that has put the spotlight on product performance. Communications service providers need a 360 degree view of their products in order to speed time to market and maximise product success. Competitive pressures have previously meant that many products go through their lifecycles relatively unchecked, but this cannot continue without sacrificing competitive edge. This is the challenge to which Tribold has the ideal solution – the marriage of product data management and product lifecycle management,” said Muderack.
For more about Eden One and Eden Ventures, please see: http://www.tribold.com/content.asp?pageid=76&pageupid=12.
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About Eden Ventures
Eden focuses on investing in early stage software companies in the United Kingdom. Eden select only a limited number of opportunities and help satisfy their early stage needs through initial investment, core management recruitment, business strategy, technical advice, and governance. Eden help shepherd big ideas from the early stages to second round financing and beyond.
About Tribold
Tribold is the world’s leading provider of true Product Lifecycle Management (PLM) and Product Data Management (PDM) enterprise application software specifically built for communications providers. Tribold’s PLM/PDM solutions enable communications providers worldwide to put product propositions at the heart of their business. Tribold does this by enabling communications providers to take products to market faster, by improving customer service through self-selection and by enhancing operational efficiency.
Tribold’s closed-loop solutions give communications providers a full 360° view of their products.
Based in London, Tribold was founded in 2003 and is privately held.For more see www.tribold.com.
Media contact
Steve Earl
Rainier PR
020 7494 6574
searl@rainierpr.co.uk
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