MIG Fonds, Earlybird and High-Tech Gründerfonds invest in Web-based telephone system

Funding round completed

nfon AG, a developer of web-based telephone systems, or virtual telephone exchanges, closed the third major round within one year. Alongside MIG Fonds, as the new lead investor, established investors Earlybird and High-Tech Gründerfonds participated in the round.

This will help nfon to extend its lead in the market of web-based telephone systems in Germany as well as to push internationalise its business. nfon is already represented in Austria, and expansion to Switzerland, France and the UK is planned.

nfon Web-based telephone systems are available on a software as a service basis, physical telephone switchboard installations. Users are able to add or delete extensions as required and are billed for actual service used.

Analysts predict that Web-based, centralised switchboards will supersede conventional customer-premises devices, in the same way as voice over internet protocol (VoIP) is replacing conventional telephony.

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