QuesCom, the European Voice and Data specialist, today announced that it has received an additional 2 million euros from BayTech Venture Capital a subsidiary of the Bayerische Landesbank, based in Munich. These funds bring QuesCom's second round of funding to a total of 13 million euros and will speed up its development on the German market.
The German market with its very innovative character is one of the most dynamic and competitive markets in the Telephony sector in Europe. This is the reason why QuesCom made it a priority development target, together with France and the UK.
This additional fund raising fits perfectly into the sales strategy focus that QuesCom announced in march when announcing the closing of its second round of funding. SPEF Venture and Mitsubishi had joined Sofinnova Partners, Société Générale Asset Management and Cross Atlantic Venture in the acquisition of QuesCom shares. The additional 2 million euros brought in by BayTech Venture Capital will be more dedicated to the introduction into the German market.
Philippe Oros, President of QuesCom, stated:" With this second round, We have finally reached our most important initial objective that was to bring a German investor into our Board of Directors. This will be a main contributor to our developments on the German market."
QuesCom announces the appointment of a new Board member, Mr Jude S. Ngu'Ewodo, Senior Investment Manager for BayTech:" We are convinced that, thanks to its excellent products, outstanding management and - last but not least - our support, QuesCom will be able to gain a firm foothold in Germany's extremely innovative yet also highly competitive market, thereby establishing itself as a major European player."
In order to reinforce its presence on the German market, QuesCom has just hired a Sales Manager for Germany, Mr Menachem Kimron, who will be based in Frankfurt. A similar sales force has recently been established in France and in the UK
The deployment of local sales offices and an expanded distribution strategy should help QuesCom develop quicker in its core markets in Europe.
About BayTech
BayTech Venture Capital, with its headquarters in Munich, is an independent venture capital fund with an international thrust whose main shareholders are Bayerische Landesbank and other international investors. The fund concentrates on extending early-stage financing to high-growth, high-tech companies. The fund's core activities centre on the sectors of information and telecommunications technology, life sciences, semi-conductors, optoelectronics and other innovative technologies. The fund volume is EUR 100 million. With a participation volume ranging from EUR 0.5 million to EUR 10 million, BayTech Venture Capital's management stands out for its technological know-how and extensive sector expertise.
About Quescom
Provider of innovative Voice and Data convergence solutions, QuesCom is a European company, whose headquarters are based in France. QuesCom's products are particularly aimed at new operators who build infrastructure services around IP networks, and equally companies wanting to take full advantage of the benefits of Internet related services, within their telecommunications systems.
QuesCom developed the SmartIAD®, an intelligent and Integrated Access Device. This is complemented by the NextBX® Software and Applications, including the NextBX® Access Call Server. By utilising an Open Architecture with Balanced Intelligence and True Convergence and by integrating existing systems, new VoIP devices and convergence for Voice and Data, QuesCom offers a complete solution to implement VoIP networks, one of the fastest growing segments in the telecommunications market.
