Openet, a Dublin, Ireland-based provider of high performance transaction management software for network operators, has completed a $21m funding round (approximately €16.9m).
The financing includes $16m in equity funds and $5m in long term debt.
The round was led by NS Solutions, an information technology solution provider in Japan and a subsidiary company of Nippon Steel, with participation from existing investors Balderton Capital, Cross Atlantic and Kreos Capital.
The company intends to use the funding for direct and indirect distribution channels development, product development, product management and deployment engineering.
Led by CEO Niall Norton and chairman Gary Cuccio, Openet provides transaction management software for network operators, which delivers real time network engagement, insight, monetization, and control. It is used by more than 80 customers in 28 countries.
The company also appointed Margaret Rice-Jones, former CEO and executive director of Aircom International and a director of NewBay, Psion, Abacus Polar and Trivanti, to the Openet Board.