Ottawa-based Martello Technologies announced it has secured $3 million in common equity as its latest investment round ended Thursday.
The company, already backed by Wesley Clover International, said the money will help it speed up production and target the global market for IP telephony and unified communications, which it said is worth $11.7 billion.
It said it expects sales to double over the next 18 months as it welcomes its new group of investors.
(Sponsored)
OCOBIA eyes Ottawa BIA expansion as it gears up for election year
Michelle Groulx says it’s not difficult to spot the Ottawa neighbourhoods with their own business improvement area (BIA). That’s because, she says, BIAs are a visual and experiential representation of
Iconic spaces, lasting impressions
The Canadian Museum of History and the Canadian War Museum offer more than beautiful spaces; they provide meaningful settings celebrating heritage, culture and design. An architectural landmark overlooking Parliament Hill
Martello is actively recruiting programmers at all levels in an effort to capture more of the global addressable market.
CEO Bruce Linton said Martello’s MarWatch platform, which simplifies cloud-hosted real-time unified voice solutions, is already used by more than 1,000 networks around the world, monitoring more than 3,500 devices. It has gained significant exposure through the company’s business relationship with Mitel.
The lead underwriter in the latest investment round, Sameet Kanade, said this positions Martello well for future growth.
“It has an experienced leadership team and a product development roadmap that is well geared for its targeted commercial markets,” he said in a statement.
