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.
OBJ360 (Sponsored)
Why a backyard coach house could be your quickest route to a new home
Building a backyard coach house is easier thanks to Bill 23, and Ottawa General Contractors are helping home owners make it happen.
Celebrating 10 years of the Ottawa REDBLACKS
Ottawa’s CFL team is celebrating its 10 year anniversary in 2024. Roger Greenberg tells us what it took to make the CFL’s capital city team a success.
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.
