ComAbility Ltd. has extended its financing round from Vertex Venture Capital and Stata Ventures by $4 million to $10 million. The company began the round in late 2007.
ComAbility develops subscriber and services operations platforms for telecommunications carriers and service providers. Proceeds from the round will be used to to better serve the growing market need for the company's neXus platform.
ComAbility's CEO is Alon Fishman. The company was founded in 2004, but held its first financing round only a year ago. The company's neXus platform generates added value for telecommunications services providers.
ComAbility has a working product and revenue, which is unusual for a start-up holding a first financing round. The company has installed its neXus platform at several DSL, cellular, and WiFi service providers in Israel and in other countries.
ComAbility is a Cisco Technology Development Partner (CTDP) and is involved in a joint session repository project with Oracle.
Published by Globes [online], Israel business news - www.globes-online.com - on March 5, 2009
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