Tel Aviv, Israel-based cVidya intends to use the funding to accelerate its sales and marketing activities in Europe and in APAC, as well as to develop follow-on products. It also plans to add to its workforce of 17 people.
cVidya was founded in September 2000 and has developed a software solution that automatically identifies, quantifies and resolves discrepancies between Operational Support Systems and Business Support Systems.
The software reduces and monitors revenue leakage, improving the bottom line for telecom companies because it quickly identifies those customers who were overcharged or undercharged.
It already has a cooperation agreement with Scandinavian revenue assurance solutions company Teleca AB. The agreement will generate an estimated 5m euros ($6m) over the next three years.
