QualiSystems Closes a NIS 9 Million Investment Round Led by Evergreen and Gemini Funds

October 15, 2012

QualiSystems, a leading provider of test and lab automation software solutions for network service providers and equipment manufacturers, today announced the closure of an approximately NIS 9 million capital raising round, led by Evergreen Venture Partners and Gemini Israel Funds. Other shareholders in the company including the Fishman Group, Altshuler-Shaham, Strauss Investments and others also took part in the investment round.

The current investment round is based on 50% growth in income and customers in the international market in the past year. In the last four quarters, the company added over 50 new clients , most from North America. Additionally, the company has targeted new niche markets and has presented an innovative solution for test and lab management for cloud services providers, organizations maintaining complex telecom networks and manufacturers of network and server equipment.

The raised capital is intended for supporting expansion of company operations during 2013, especially in North America, where QualiSystems plans to expand operations in software solutions for lab management and automation of testing in the data center environment.

In January 2011, led by Evergreen Venture Partners and Gemini Israel Funds, the company raised approximately NIS 22 million. Last January, for the third consecutive year, it was also awarded a grant amounting to NIS 1.65 million to the chief scientist, the funding being earmarked for R&D for lab management and testing solutions.

QualiSystems CEO Lior Koriat said, "We are pleased with the closure of the current round, which once again demonstrates the shareholders' trust in the company and its path to success. We branched out to the data center field based on the impressive growth of this market, accompanied by ever-increasing investments. The solutions we offer enable companies involved in the field to significantly improve the availability of their services, to support high performance abilities and ensure interoperability in a complex infrastructure environment."

Boaz Dinte, managing partner at Evergreen Venture Fund points out, "We have been closely monitoring QualiSystems over the last few years, and are pleased with its progress and its expansion to additional markets. I recently visited a number of the company's major customers and was impressed with the level of satisfaction and their achievements, reached by virtue of the system. There is no doubt that QualiSystems has already concretely achieved much success with TestShell and we expect further innovation and market penetration going forward."

About TestShell
TestShell is an end-to-end enterprise software framework offering complete Lab Management, Device Provisioning and Test Automation solutions. Used in the Networking and Storage environment to manage and drive large scale testing labs, the framework enables engineers to optimize lab performance and increase testing coverage while expanding equipment utilization, reducing setup time and accelerating testing.

About QualiSystems
QualiSystems is a leading provider of enterprise software solutions for test and lab automation, driving innovation, efficiency and ROI. QualiSystems' TestShell Framework has already proven as an industry-critical solution in North America, APAC, Europe and the Middle East, where it is used by market leaders from a wide spectrum of industries including network equipment manufacturers, telecom operators, data center providers, enterprises and electronics device manufacturers. www.qualisystems.com

 

Press Contact:

Lynda Starr
Vantage Communications for QualiSystems
+1 973 386 5949
lstarr@pr-vantage.com

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