Telness Tech develops software that automates user interface design for telecommunications companies. The company launched in Sweden in 2017 and has secured clients in both the US and Europe. It has signed multi-year contracts with its first two US clients and registered a US company in December as it accelerates international expansion. Management was restructured with founders Martina Klingvall named CEO and Jonas Cedenwing becoming COO to scale operations. Telness projects 200M SEK in annual recurring revenue and says its growth pace has been extraordinary. The €5M funding is intended to support rapid scaling as the company enters new markets. Telness Tech builds customer-centric cloud solutions for players in the telecoms sector to digitize services, simplify operations, and reduce costs. The company is part of Nordic Communications Group, which also owns Telness the operator. Telness Tech delivers telecoms services to over 15,000 business customers in Sweden. It was founded in 2021 by telecoms executive-turned-entrepreneur Martina Klingvall and is based in Stockholm. The company plans to use new funding to expand to new markets, starting with the Netherlands and the UK. The holding company has now raised a total of €15m following the latest tranche.

Total raised

$14M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2024