Intel Invests in Russian SaaS Provider
Russia’s Mango Telecom, a leading provider of cloud-based business applications with offices in Moscow and St. Petersburg, announced the receipt of investment support from Intel Capital
Feb 20, 2014
The funds will be used to prepare the launch of Mango Telecom on the European cloud-based business applications market, reports a source from the company.
The Russian leader in communication services using the SaaS model, Mango Telecom employs more than 300 employees in nine locations.
"Mango Telecom has become one of Russia’s largest companies in the SaaS segment and shows a lot of potential for further development. We look forward to further fruitful cooperation," said Maxim Krasnykh, Director of Intel Capital in Russia and the CIS.
The company provides an integrated set of cloud-based business applications: Virtual PBX, Call Center and CRM systems. Mango Telecom increased its revenue three-fold between 2011 and 2013, from 303.4 million rubles ($8.6 million) to 884.8 million rubles ($25.1 million). The company’s customer base exceeds 30,000 organizations and 200,000 active users of its services.
"Our cloud-based PBX- scale development is easier and more functional compared to traditional PBX hardware solutions. Moreover, they allow users to abandon the acquisition and maintenance of hardware, which significantly reduces the total cost of ownership, said Yuri Zigulya, president of Mango Telecom.
The company is planning to expand the geographical reach of its services in Russia as well as to enter the European market. It is estimated that in 2013, the cloud telephony market in Russia amounted to slightly less than 2 billion rubles ($56.8 million). A growth rate of 30 to 40 percent is expected in the market over the coming years.
"The segment of cloud communications solutions is developing to meet the needs of small and midsize businesses as well as corporate customers in both developed and emerging markets," said Marcin Hejka, managing director of Intel Capital in Eastern Europe, the Middle East, Africa, Russia and the CIS. "Mango Telecom has everything needed in order to derive maximum benefit from this trend. We are glad that we can mark a decade of our presence on the Russian market with this investment."
Given the promising market for cloud communications, Intel Capital is cooperating with Mango Telecom on the implementation of the company’s expansion plans. The invested funds will be used to develop and build the infrastructure that will help Mango Telecom develop domestic and international markets more quickly and more successfully.
"Intel’s capital investment will help us to strengthen our leadership in the rapidly growing market for cloud-based business applications," said Dmitry Byzov, CEO, Mango Telecom.
Intel Capital invests in innovative companies around the world, working in the technology sector with device manufacturers and software providers operating in market segments such as service enterprises, the development of mobile technology services, Internet services, semiconductor manufacturing and environmentally friendly technologies. Since 1991, Intel Capital has invested more than $11 billion in more than 1,322 companies from 55 countries. During this period, 204 companies went public and 336 were acquired or participated merger. In 2012, Intel Capital funded 150 deals, investing $352 million, about 57 percent of which were sent to companies operating outside the U.S. and Canada.
- See more at: http://www.software-russia.com/news/industry_news/intel-invests-in-russian-saas-provider#sthash.8wdEIJvm.dpuf
The Russian leader in communication services using the SaaS model, Mango Telecom employs more than 300 employees in nine locations.
"Mango Telecom has become one of Russia’s largest companies in the SaaS segment and shows a lot of potential for further development. We look forward to further fruitful cooperation," said Maxim Krasnykh, Director of Intel Capital in Russia and the CIS.
The company provides an integrated set of cloud-based business applications: Virtual PBX, Call Center and CRM systems. Mango Telecom increased its revenue three-fold between 2011 and 2013, from 303.4 million rubles ($8.6 million) to 884.8 million rubles ($25.1 million). The company’s customer base exceeds 30,000 organizations and 200,000 active users of its services.
"Our cloud-based PBX- scale development is easier and more functional compared to traditional PBX hardware solutions. Moreover, they allow users to abandon the acquisition and maintenance of hardware, which significantly reduces the total cost of ownership, said Yuri Zigulya, president of Mango Telecom.
The company is planning to expand the geographical reach of its services in Russia as well as to enter the European market. It is estimated that in 2013, the cloud telephony market in Russia amounted to slightly less than 2 billion rubles ($56.8 million). A growth rate of 30 to 40 percent is expected in the market over the coming years.
"The segment of cloud communications solutions is developing to meet the needs of small and midsize businesses as well as corporate customers in both developed and emerging markets," said Marcin Hejka, managing director of Intel Capital in Eastern Europe, the Middle East, Africa, Russia and the CIS. "Mango Telecom has everything needed in order to derive maximum benefit from this trend. We are glad that we can mark a decade of our presence on the Russian market with this investment."
Given the promising market for cloud communications, Intel Capital is cooperating with Mango Telecom on the implementation of the company’s expansion plans. The invested funds will be used to develop and build the infrastructure that will help Mango Telecom develop domestic and international markets more quickly and more successfully.
"Intel’s capital investment will help us to strengthen our leadership in the rapidly growing market for cloud-based business applications," said Dmitry Byzov, CEO, Mango Telecom.
Intel Capital invests in innovative companies around the world, working in the technology sector with device manufacturers and software providers operating in market segments such as service enterprises, the development of mobile technology services, Internet services, semiconductor manufacturing and environmentally friendly technologies. Since 1991, Intel Capital has invested more than $11 billion in more than 1,322 companies from 55 countries. During this period, 204 companies went public and 336 were acquired or participated merger. In 2012, Intel Capital funded 150 deals, investing $352 million, about 57 percent of which were sent to companies operating outside the U.S. and Canada.
- See more at: http://www.software-russia.com/news/industry_news/intel-invests-in-russian-saas-provider#sthash.8wdEIJvm.dpuf