Press

nfon ensures further financing of its enterprise

August 12, 2009

MIG, Earlybird and High-Tech Gruenderfonds invest in the telephone system of the future

nfon AG, developer of innovative web-based telephone systems, has closed the third major round of growth-financing with renowned investors within one year. Besides MIG fonds, as the new lead investor, the established investors Earlybird and High-Tech Gruenderfonds also participated in the financing round which closed on a high, single-digit million scale. nfon’s goal is to extend their lead on the market of web-based telephone systems in Germany as well as to push internationalization of its business. nfon is already represented in Austria, expansion to Switzerland, France and Great Britain is currently in the planning stages.

In times of “financial-crisis”, nfon offers an inexpensive high-end solution with its web-based telephone systems, which are available based on software as a service (SaaS). The nfon system replaces stationary telephone switchboard installations, consequently the company is able to add or delete extensions as convenient and only the actual service used will show up on the bill.

Amongst other options nfon opted for MIG as a new investor, since the company can benefit from the broad sales know-how of their sponsoring body. „nfon is the market leader for virtual PBX in Germany“, says Michael Motschmann, managing director of MIG AG. Major analysts predict, that webbased, centralized PBX will eventually completely supersede conventional customer-premises devices, as VoIP replaces conventional telephony. „That’s why we envision virtually unlimited growth-potential for nfon “, Motschman states.

„Over the past six months our revenues have more then doubled. This rapid corporate growth convinces investors even in times of financial turmoil“, nfon managing director Jens Blomeyer believes.

„Successful start-ups such as nfon can raise impressive financial volume even in critical times,” Earlybird partner Dr. Hendrik Brandis explains. „We examine an excellently positioned management team, whose strengths will become apparent just now, in the current enterprise phase of internationalization“, judges Markus Kreßmann, investment manager of the High-Tech Gründerfonds, with regards to their stake in this round of financing.

The virtual telephone system by nfon offers businesses of any size functions which were so far reserved for major companies such as telephone conferencing and interactive voice response.

Besides mid-sized companies, nfon also acquired reputable companies as customers such as General Electric, ADAC, Explorer Fernreisen as well as several government agencies. In addition nfon convinced one of Germany‘s largest banks of it’s quality services with it’s TÜV certified solution. This financial institute benefits from the unparalleled security solution which guarantees for even higher safety-standards, regarding tapping protection, than e.g. ISDN. Moreover nfon’s customerbase contains other local telco-operaters as whitelabel’s, who sell the nfon-solution under their own brand.

About nfon AG:
One of the leading providers of telecommunication solutions for medium-sized businesses, nfon AG is located in Munich. The company offers high-quality products and services as a complete service package and hereby offers a measurable added value for business. For further information please check out website www.nfon.net

Contact:
nfon AG
Jens Blomeyer
Tel: +49 89 453 00-141
Jens.Blomeyer@nfon.net

About MIG:
MIG Verwaltungs AG is a Munich-based venture capital firm with an investment focus on early to mid-stage life science and technology companies in German-speaking Europe. MIG Verwaltungs AG is the initiator and management entity of the MIG Funds which are exclusively distributed by AWAG and addressed at private investors. More detailed information on MIG and MIG’s investment portfolio can be found at www.mig-fonds.de and www.mig.ag

About Earlybird:
Earlybird Venture Capital was established in 1997 and is one of the most successful European venture investors. Currently, Earlybird manages over 400 million euros of assets for more than 20 international investors. Earlybird invests in innovative, fast growing companies with outstanding management teams and high growth potential on international markets.
Earlybird’s investment focus is on innovative companies within the sectors software, semi-conductor technology, information and communication technology, internet based services, cleantech (environmentally friendly technologies) and medtech. Earlybird’s portfolio currently includes more than 20 companies in seven countries (Germany, Switzerland, Sweden, UK, USA, Italy and France). Since inception Earlybird has invested in more than 60 companies.

About High-Tech Gruenderfonds:
The High-Tech Gruenderfonds invests venture capital in young technology companies that transform promising scientific research into business enterprises. The seed financing of up to 500 T€ shall result in a technical prototype, a proof of concept or a proof of market. High-Tech Gruenderfonds has access to a fund volume of around 272 million Euro. Investors in this public-private partnership include the Federal Ministry for Economy and Technology, the KfW Banking Group as well as the six industry companies BASF, Robert Bosch, Carl Zeiss, Daimler, Deutsche Telekom and Siemens.

Contact:
High-Tech Gründerfonds Management GmbH
Markus Kreßmann
Investmentmanager
Ludwig-Erhard-Allee 2
53175 Bonn
Germany
Tel.: +49 228 965685 00
Fax: +49 228 965685 50
info@high-tech-gruenderfonds.de
www.high-tech-gruenderfonds.de

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