The company raised the finance from Vertex and Stata Venture Partners.
ComAbility Inc. has raised $6 million from Vertex Venture Capital and private equity fund Stata Venture Partners. This was the company's first financing round even though it has been existence since 2004. It has survived up to this point on revenue from consulting work carried out by its founders.
Comability, which is managed by Alon Fishman, is developing a subscriber management platform for telecommunications companies and service providers. In contrast to many other companies at this stage, Comability has a working product and revenue and it is even profitable. The company has deployed its device at DSL, cellular and WiFi providers in Israel and other countries, and the proceeds from the financing round will enable it to expand its presence globally and move on to the development of further products.
Published by Globes [online], Israel business news - www.globes.co.il - on November 12, 2007
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