London, 4th September 2009 – OnRelay, the leading Cellular Fixed Mobile Convergence (FMC) provider, today announced the close of a round of financing. The round was raised from both existing and new investors to support international deployments of OnRelay’s new Mobile PBXsoftware, Unified MBX.
Max Bautin, Managing Partner at IQ Capital Partners, a participant in the round, comments, “OnRelay demonstrates a clear technical lead in the global FMC market, predicted to be a multi-billion dollar market over the next 5 years. Rapid revenue growth is expected and, with the cloud-based Unified MBX, OnRelay is on course to take a substantial market share”.
“I am very pleased to support this financing round which follows the successful launch of OnRelay’s next generation Mobile PBX software, Unified MBX,” adds Richard Cunningham, OnRelay chairman, and consultant to Herald Investment Management Ltd. “The funds raised will allow OnRelay to fulfil the considerable deployment demand from global mobile operators”.
Marie Wold, OnRelay CFO & President, continues, “With the launch of Unified MBX, OnRelay is primed to take the Hosted UC and Mobile UC markets by storm. I’d like to thank OnRelay’s existing investors for their continued support, and to welcome new investors at this exciting time”.
OnRelay was this month named as the leading FMC innovator by The Guardian’s Tech Media Invest Top 100 list, a comprehensive review of the UK’s hottest technology companies, supported by Microsoft and PricewaterhouseCoopers. In 2008 the company was recognised by the FierceVoIP “Fierce 15”, and was awarded the 2008 Techworld VOIP/ Convergence Product of the Year.