PARIS Ercom, French maker of telecom network security and testing solutions, announced it has raised 12 million euros ($17 million) in a capital financing round led by Clipperton Finance.
Existing investor Capzanine as well as Alven Capital, OTC Asset Management and A Plus Finance also participated in this round of financing.
Ercom (Velizy, France) said the funds will be used to accelerate the development of its core expertise, to acquire technological bricks that have been integrated and intensify its international expansion, notably through the establishment of local client supports.
"2008’s technical and business successes were the first phase of Ercom’s strategic shift initiated in late 2007," declared Didier Pagnoux, CEO of Ercom.
He continued: "While leveraging the technical expertise of the company by designing and manufacturing products, Ercom has created significant breakthroughs in its business environment. This capital increase will now enable the company to leverage this lead and enter a new phase of accelerating growth."
Founded in 1986, Ercom employs 45 engineers and designs and manufactures innovative solutions dedicated to the testing and securitization of telecommunication networks. It operates in test & measurements with its Mobipass range and in secure communications with its Cryptosmart product family.