Aria Networks Secures £2million Series-A Investment from Seraphim Capital
Posted on: 12th May 2008
Aria Networks, a leading provider of planning and optimisation solutions for Next-Generation Networks today announce it has secured an investment of £2Million ($4Million) from Seraphim Capital, a £30Million ($60Million) venture capital fund based in London, England.
“We are pleased to have completed this round of investment”, said Tony Fallows CEO of Aria Networks. “Over the last year we have made significant progress with our customers and partners around the world. With Seraphim’s backing, we now have the capability to further execute on our unique technology and business strategy”.
Aria’s technology enables telecoms companies to design, plan, and optimise their Next-Generation Networks. Using its iVNT software suite, Aria is capable of doing in minutes what it takes large teams of engineers and planners months to achieve. Furthermore, the functionality provided by Aria enables telecom operators to economically build their network and to reliably deliver the myriad of services they offer.
Aria’s technology is highly disruptive and has the capability to fundamentally change the economics of a telecom operator’s business.
“Aria is an outstanding investment opportunity”, said Mark Boggatt, Investment Director at Seraphim Capital. “Aria has a perfect blend of world-class technology and an exceptional management team. The Company has already demonstrated its ability to work with some of the world’s leading telecoms companies and vendors and with this injection of funds we believe the company will enter a phase of rapid growth.”
Eddie Harding of ICON Corporate Finance who advised Aria’s board on the deal said “Aria has a unique product offering for the huge and fast growing OSS market, and in a very short period of time has won a number of top tier reference customers in the sector. This funding from Seraphim will help the Company to accelerate its current growth path and become a truly global technology offering.”
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About Seraphim Capital
Seraphim is a consortium of Business Angel networks and corporate venturers across the UK which have joined forces to raise £10m of private investment, with £20m of UK Government backing, to manage one of the UK’s new Enterprise Capital Funds (ECF). The ECF programme is a new multi-million pound scheme set up by the UK Government to boost investment in fast growing small and medium-sized businesses in the UK. Seraphim was the first ECF to launch in September 2006.
Seraphim’s partners include Business Angel networks from across the country including London Business Angels, Pi Capital, Advantage Business Angels, Entrust and Archangels. The corporate venturers involved are General Capital Venture Finance, The Summit Group and GLE. An exciting dimension to the Fund consortium is the addition of funding from Focus Enterprises a US investment bank and New Vantage Group one of the leading US Angel Groups. Seraphim has completed 5 deals valued at £6.5m in the year since launch.
Seraphim won the Most Exciting New Entrant to The Market Award at the 2006 British Business Angel Association’s Awards.
For more information: www.seraphimcapital.co.uk
About Aria Networks Limited
Aria Networks develops and markets Operational Support System (OSS) software that enables telecoms companies to plan, design and optimise their converging Next-Generation Networks. Aria Networks was established in England in 2005 by leaders in the development of telecommunications technologies and Artificial-Intelligence (AI) software.