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London Tech Week

Stockholm-based Telness Tech secures €5M to expand into the US

Telness Tech founders
Picture credits: Telness Tech

Stockholm-based Telness Tech, a software company for the telecommunications industry has secured €5 million in funding from two largest shareholders – Industrifonden and Viltor (JCE Group). 

The funding will enable Telness Tech to accelerate international expansion, especially in the US. In addition, two of the founders of Telness and Telness Tech have swapped operational roles to manage the company’s expanding operations effectively. Founder Jonas Cedenwing became the Chief Operating Officer, leading the charge in the company’s international expansion across new continents and Martina Klingvall became the CEO of Telness Tech. 

Digital user-centric telecom solutions

Founded by Martina Klingvall, Carl Sahlin, and Jonas Cedenwing in 2016, Telness Tech enables cloud-based mobile operators and other telecommunications companies to launch fully digital user-centric solutions. This will maximise customer satisfaction and minimise OPEX (Operating Experience) through full automation.

Touted to be a fully automated platform, it helps telecom companies reduce costs by up to 80%, shorten time to market to 2 months, and increase customer satisfaction by 3x. 

Telness Tech implemented 11 mobile operators to run on their software within just six weeks, today those are 18 mobile operators live. With a pipeline valued at over 200 million SEK (in annual recurring revenue), it has already signed clients in the US and Europe. 

Jonas Cedenwing, Founder and incoming Chief Operations Officer, commented: “The pace of our growth has been extraordinary, we registered our US company in December and signed our first two US clients in February. That’s a good start in 2024. We must scale up rapidly to meet the demands of our expanding client base. As I focus all my time on our new international clients in this unprecedented growth, scaling our organisation accordingly, Martina will oversee managing the leadership team and reporting to the board.” 

Martina Klingvall, Founder and incoming CEO of Telness Tech, stated, “With our current growth trajectory, it’s essential to have our top talent closely involved in the execution of our operations. As CEO, I will focus on managing the leadership team, while Jonas will lead critical technical aspects and operations, ensuring that our momentum remains as we rapidly enter new markets. We can’t wait to tell you more soon. 

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