| cVidya Networks Completes $7 Million Financing Round |
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TEL AVIV, Israel, June 14 /PRNewswire/ -- cVidya Networks, that develops and markets Revenue Assurance solutions, has recently completed a second financing round of $7 million. Carmel Ventures led the current round joined by current investors Hyperion Venture Partners, whilst Stage One Ventures participated.
cVidya intends to use these funds to accelerate its sales and marketing activities in Europe and in APAC, as well as to develop follow-on products.
cVidya has developed a software solution that automatically identifies, quantifies and resolves discrepancies between Operational Support Systems ("OSS") and Business Support Systems ("BSS"). The solution dramatically reduces and monitors revenue leakage, thereby significantly improving the bottom line for telecommunications companies providing data services. In the last few years, broadband data communications networks have been rapidly deployed and enormous amounts of resources have been invested in order to supply advanced services. Since the revenues from these services contribute an increasingly significant share, in relation to the total revenues, a new market need has been created for revenue assurance products of this kind. Revenue assurance maximizes the income from the service provider's customers, thereby improving the provider's financial results.
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