Last updated on April 23, 2014 at 21:24 EDT

Nordic TeleCom has Raised $1,3M in Funding

December 11, 2012

ESPOO, Finland, December 11, 2012 /PRNewswire/ –

Nordic TeleCom, a Finnish unified cloud communication provider, today announced
receiving $1,3 million in Series A funding from Open Ocean Capital, a leading investor in
European technology start-ups.

Nordic TeleCom provides unified communication solutions as a cloud service. The
services include PBX and Call Center solutions, and various value added services such as
Call-back, Reporting & Statistics and Call Management. The services don’t require any
investments in hardware, software or installations.

The funds will further boost Nordic TeleCom’s international expansion in key markets
especially in Europe. The partners of Open Ocean have a background in MySQL AB that was
sold to Sun Microsystems for $1B in 2008.

“With the funding and strong support from Open Ocean we will be able to further expand
our international operations, and realize our vision of making the newest and most
advanced cloud based communication technologies accessible to any business in the world”,
says Esa Lahtinen, CEO and Founder of Nordic TeleCom.

“Nordic TeleCom’s popularity among the customers and the strong growth have really
impressed us”, says Patrik Backman, CEO of Open Ocean Capital.

About Nordic TeleCom

Founded in 2009, Finnish company Nordic TeleCom (NTC) is at the forefront of unified
communication services. In 2011, NTC launched a unique portal that enables – with no
installations or start-up costs – different value-added services for the company’s
existing contact center and telephone solutions. NTC’s clients include the Stadium sports
equipment chain, Sixt Rent a Car Finland, Diacor healthcare centers and Delta Motor Group.


About Open Ocean Capital

Open Ocean is a leading early-stage venture capital firm focusing on European
start-ups with large user-bases and developing enterprise software. Open Ocean was the
first major owner of MySQL AB, which was later sold to Sun Microsystems for $1 billion in
2008. Open Ocean leverages its direct experience as the founders of MySQL to provide
hands-on support to the management of companies receiving Open Ocean’s funding. Open Ocean
is led by partners Patrik Backman, Ralf Wahlsten and Tom Henriksson, and by “community and
open-source wizard” Michael “Monty” Widenius, the original developer of the MySQL database
and co-founder of the company MySQL AB. http://www.openoceancapital.com

        Nordic TeleCom Ltd
        Pietari Paivanen: +358-50-543-3292, pietari.paivanen (at) nordictelecom.fi

        Open Ocean Capital Ltd
        Patrik Backman: +358-40-5075024, patrik (at) openoceancapital.com

SOURCE Nordic TeleCom

Source: PR Newswire