NEW YORK, NY December 4, 2006 -- Quickcomm Software Solutions today announced that it has raised US$4.1 million in Series A financing. The deal, Quickcomms first institutionally led capital raise, was led by Starfish Ventures.
This additional capital will enable Quickcomm to further expand its international offering and recruit additional top talent to meet growing customer demand from around the world said Quickcomm CEO Mark Evans. Evans added, Starfish Ventures is as much a strategic partner as they are a capital partner in this endeavor. They understand the TEM market and will surely help Quickcomm continue with its meteoric momentum.
Our investment in Quickcomm reflects Starfishs strategy of investing in well-managed companies that have significant growth potential and strong market leadership positions. said Starfish Investment Principal John Dyson. "Quickcomm is rapidly expanding beyond its Australian roots and we have the highest confidence in the teams ability to build a significant global business.
Quickcomms telecom expense management software reconciles telecom invoices with inventory and human resource records. The software can read and evaluate more than 200 electronic billing formats for clients whose telecom needs are met by multiple vendors. By analyzing each line item, from mobile and cellular voice services to tie lines, paging services, data and PBX, Quickcomm identifies discrepancies in telecoms bills and redundant or surplus services and saves clients an average of 10 percent to 20 percent off their telecom bills.
Quickcomm was established in 1997 and has grown to become a leading provider of global Telecom Expense Management (TEM) software and services to Global 2000 companies. Quickcomm software helps cut telecom expenses dramatically and provides actionable insight for telecom provisioning that improves a companys bottom-line. It is the most complete TEM solution available, integrating transparently with a companys existing infrastructure. Initially formed in Australia, Quickcomm has been incorporated in the United States since 2003 and is headquartered in New York. For more information visit the companys web site at www.quickcomm.com.
About Starfish Ventures
Established in 2001, Starfish Ventures is an Australian owned venture capital fund manager seeking superior returns through active investment in innovative technology companies. Starfish Ventures has over $150 million in funds under management and has made investments in over 20 companies to date. Starfish seeks investments in emerging Australian businesses across all technology sectors including, information and communications technology, biotechnology and life sciences, industrial technology and material sciences. The team's track record includes Australian technology success stories ResMed, Moldflow, Preston Aviation Solution and Sirtex Medical. www.starfishvc.com.