Netmania IT Receives Significant Funding

Netmania IT Limited, an Elmhurst, UK-based provider of softare that enables telecommunications companies to manage customer devices remotely, recently received a significant funding from a consortium of investors.

Backers included Midven, through its Early Advantage fund, New Wave Ventures LLP, and investor Bob Giddy, the former CEO of Amino Technologies, who is joining as non executive director.

The company is using the funds to to increase its sales efforts. After securing sales across Europe and New Zealand, Netmania IT is now set to establish a presence in the United States.

Led by managing director Nick Wilcox, Netmania IT had identified a “substantial market” among smaller telecoms firms that need to remotely manage devices on their customers’ premises. Its software, ACS Lite, works with the vast majority of internet enabled devices such as routers and gateways, and does not require customisation. It adheres to the international standard TR069 for managing ADSL devices.



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