Federos LLC, a St. Charles, Illinois-based provider of next-generation solutions for managed service providers, completed its Series B financing.
The round was led by Evolution Capital Partners with participation from family offices in the U.S., Germany, and Austria.
The company will use the funds to expand its ongoing efforts to expand its global sales force and pursue product development opportunities.
Founded in 2005 as Monolith Software, rebranded in 2017, and led by David Knight, CEO, Federos provides solutions for integrated service management, workflow automation, and contextual visualization of large, complex service and operating systems to accelerate the digital transformation of carrier and enterprise networks.
Federos products, Assure1™ and Fusion1™, integrate traditional service management environments, including legacy tools, onto a single, scalable platform to simplify management and allow many operating tasks to be performed autonomously.
Customers include telecommunications, managed service providers, and enterprises, including Aureon, Eir, Equinix, Hargray, MANX, Oracle, Tata Communications, and Tele2.
The company has more than 45 employees who support customers worldwide with offices in Frisco, Texas; Schaumburg, Illinois; and Bracknell, England.