Founded in June 1999 by Philippe Oros, former Vice President WAN Technologies for Interphase Corporation and Founder of Synaptel, QuesCom is starting its expansion phase.
Velizy, Samedi 5 Février 2000:
After an initial seed funding of $3.2M provided by Interphase and the founders team, including $1,2M invested by Philippe Oros a first financial round was received in an amount of $7M from 3 Venture Capital companies: Sofinnova, SGAM and Cross Atlantic Ventures. A second financial round is scheduled for the end of year 2000.
This investment will allow QuesCom to increase its R&D effort and to launch its products and solutions in Europe. In addition to the funds received the selected VCs will bring the company an extensive network of expertise and business relations through their active presence to the board of directors.
“Our goal is to reach rapidly a leading position in Europe as an innovative supplier of VoIP solutions for the next generation converged networks and to start our operations in the US next year” says Philippe Oros, President of QuesCom.
About the Investors
SGAM
SG Asset Management is a subsidiary of Société Générale, and benefits from the expertise of the group, which created the first French mutual fund in 1964. Created in January 1997, the subsidiary took over Société Générale's asset management activities as an independent legal entity. SG Asset Management offers private and corporate clients and international institutional investors a wide range of investment products and services to fulfil their specific requirements.
Three years after its creation, SG Asset Management is present in all major international markets. Through its ambitious growth policy in Europe and around the world, assets under management have risen by 175% in 5 years.
1000 people in 16 countries manage assets amounting to EUR 145 billion. SG Asset Management has a market share of 13.5% in mutual funds in France, and manages more than 600 employee saving scheme funds. 40% of the assets are managed by SG Asset Management on behalf of international clients.
Sofinnova Partners
Sofinnova Partners is an independent venture capital company based in Paris and San Francisco.
It invests in start-ups and early-stage companies with ambitious projects, operating in the areas of information technology and the life sciences.
Sofinnova Partners invests mainly in the following information technology sectors:
- E-Commerce, Internet Content, and Convergence Technologies
- Internet and Telecom Technology
- Software Applications and Microelectronics
Sofinnova Partners is particularly interested in voice-data convergence over telecom networks, and specifically telephone services using IP. The optimization and expansion of Internet bandwidth should bring about major innovations and offer financing opportunities.
Sofinnova Partners acts as lead or co-lead investor, plays an active part on the board of directors, and brings added value to the management team.
Sofinnova Partners manages today FRF 1.5 billion in assets.
Cross-Atlantic Ventures
Cross-Atlantic Ventures manages CAVI, a fund dedicated to Voice/Data Convergence and ASP related early investments. The present scope of operation is France, Israel and Eastern USA. One of Cross-Atlantic specialities is to help young companies become global faster by investing early in multiple geographies.
CAV investments include Webdialog based in Massachusetts, ASP/ISV in multimedia call processing space, Coppercom based in California, modular switches for mixed internet and voice operators in DSL environments, Emersys based in France Medical, Datamining/ASP and Aptis Communications based in Massachusetts, high capacity internet access server, the latter recently acquired by Nortel. CAV is also Venture Partner with funds Sofinnova based in Paris, Concord Venture based in Tel-Aviv, ATV based in Boston, TCV based in California.
About the new Board Members
Joel Rosenberg, Innovation Funds Manager Private Equity, SG Asset Management
Mr Rosenberg has an extensive experience in the Venture Capital and High Tech environment. Mr Rosenberg currently holds the position of Innovation Funds Manager Private Equity at SGAM (Societe Generale Asset Management), and manages several funds totalling over 1 Billion FRF. His previous experience in technology development covers both mergers and acquisitions management at Compagnie Financiere Edmond de Rothschild Banque, as well as the general management and development of innovation at the French Ministry of Research. He started his career by taking care of the industrial development of Missile Systems for the French MOD. Mr. Rosenberg has extensive high-level international experience. He holds degrees from Ecole Polytechnique, ENSAE and MIT.
Olivier Protard, Partner Sofinnova Partners,
Olivier Protard joined Sofinnova in 1989. He manages investments in the information technology sector. A graduate of the Institute of Political Studies in Paris, he began his career as a journalist and later as a management consultant in London. Between 1987 and 1989, he worked for the IDC Communications group in Paris where he was head of IDC France's research then Deputy Editor of Le Monde Informatique. Olivier is a Board member of MultiMania, None Networks, Cyrano, QuesCom, VistaPrint, Syrinx and Parrot.
Jean Pierre Boespflug, President, Cross-Atlantic Ventures
Jean-Pierre Boespflug is a veteran of the networking industry. Prior to funding Cross-Atlantic Ventures in September 97, Mr Boespflug was Senior Vice-President of Engineering with Shiva Corporation now Intel. The assignment based in Boston follows two years as Vice-President of International Operations and Vice-President of World-Wide Service Provider Business based in France giving Mr Boespflug a unique perspective of remote management challenges. In the period 88 to 94, Mr Boespflug dedicated himself to European Networking business spending equal time with Cisco Systems first then Bay Networks as Vice-President of European Operations. A graduate of Stanford EE department in 1977, Mr Boespflug spent the early part of his career in California holding Engineering positions at Hewlett-Packard and Zilog before being a Co-founder of Bridge Communications now merged with 3Com Corporation along with Eric Benhamou. Bridge was one of the first start-ups in the emerging Ethernet Terminal Server and Router Market in 1981.
About QuesCom
QuesCom is a European company, based in France, specialized in the manufacturing and development of Next Generation Telecommunication Servers. QuesCom products are specifically designed for Carriers to deliver new Internet based Voice & Data services, and for Enterprises to profit from Internet and existing services. QuesCom solutions are focused around a line of open products that include latest VoIP technology (gateways) and communications servers, and Integrated and Intelligent access (Smart IADs: Integrated Access Devices), as well as a complete suite of associated Qware software (Call Servers and Network Management).
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