OnRelay targets more blue chips after investment
The company plans to roll-out its latest product to even more major clients following cash boost
OnRelay, which provides telephone integration for corporate clients, has completed a fourth series of funding.
The London-based company has received an undisclosed amount of backing from IQ Capital as well as investment from its chairman Richard Cunningham and existing shareholders. Its latest product, the MBX, integrates employees’ mobile phones with existing telephone systems and can completely replace desktop phones, the company says.
The MBX is based on patented technology and offers ways of handling integration that other systems cannot match, the OnRelay says.
Currently, it is being distributed by firms such as Swisscom and IBM and OnRelay boasts main Fortune 500 companies amongst its client list.
OnRelay says the market for its products will be worth as much as £7.5bn by 2012.
Max Bautin, of IQ Capital, who will be joining the company’s board as a result of the deal, said: “We are delighted to have lead this round of funding for OnRelay.
“I have known the Company and its founders for a few years and have been struck by both the capabilities and disruptive potential of its product, the quality of its management team and their achievements to date.”
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