When it comes to testing the networks through which data flows, it doesn’t sound like the most interesting work. But if you imagine a service suddenly stopped working due to a data flow issue, that’s annoying – which is why this business area is so important. Segron wants to prevent outages, to which local investment fund Credo Ventures has sent money a second time.
The headquarters of Segron, which is officially based in the Netherlands, is located in Bratislava and supported by the Austro-Finnish founders, they closed another investment round, as in 2019, colleagues from OTB Ventures as well as Credo also participated in it. In total, the company has already raised $ 10 million, which is nearly 216 million crowns, with new capital in the back that it plans to continue growing.
“Automated network testing can save a lot of time and money, and we see a great opportunity for growth. Segron can detect the presence of some data or signals in any network, whether everything is working properly, or detect potential problems.” Describes the new investment, Vladislav Jež, a partner at Credo Ventures.
As for the Local Investment Fund, it is again an investment in the B2B sector, which they specialize in Cred Sigrun It’s not quite a typical startup that sprung up a few years ago. Austrian Thomas Groissenberger, Michael Sedlacek and Fin Jari Nurminen founded the company in 2012. They all had experience from companies like Nokia and T-Mobile and over time they identified a problem most telecom companies face.
Data and networks are everywhere
It was a network test, which is performed, for example, when new devices or applications are being introduced, to determine whether all data or signal streams are working properly. So they focused on developing a platform that would automate this activity. The testing is often performed manually, so automating the entire process promises a significant saving of time and money.
“Telecom operator networks are becoming more robust and complex, new services and updates are added and this causes problems. At the same time, customers in a very competitive environment demand the highest possible quality, which cannot be guaranteed without frequent testing.” Describes the advantages of the solution from Segron Vladislav Jež, which representatives of the company visited for the first time in 2019.
The telecommunications management team had little experience with sales and marketing and eventually Credo slapped them in collaboration with Dutch fund OTB Ventures. Two years later, they added several million dollars in new capital as part of another investment round, during which Segrun plans to spread not only across Europe, but also to the United States and the prospects to the East.
The company’s main customers are large telecom companies such as T-Mobile, Telefónica and Swisscom, but the potential for automated network testing lies in many other areas. “It is also linked to the digital transformation of the companies, where the flow of data increases and it also needs to be flawless. E-commerce, cars or banking are also evolving,” Jež Lists. In general, what is most talked about right now is the development of 5G networks and the Internet of Things.
“The future is in the automation of processes, so we are interested in all areas where it could happen.”
“Our automated solutions help companies improve the end customer experience, increase productivity, and improve marketing time for new products and services.” Segron co-founder and CEO Thomas Groissenberger, who helps companies tackle the great challenges and opportunities that have arisen in the past twelve months, says. Many of them come in digital form.
For Credo Ventures, this is another bet on a service that automates various activities. The star of his portfolio is Romanian startup UiPath, focused on business operations, valued at $ 35 billion in its latest investment round and will go public in the US this week. However, he’s not the only automation horse he’s betting on on Credo.
“The future is in process automation, so we are interested in all areas in which it could happen. Not only is UiPath, but also, for example, IP Fabric or Manta Software, which we have in our portfolio,” Vladislav Geo adds. Credo invested in the Czech-American startup Manta in the Grand Tour last fall and shortly before that, also supported the aforementioned IP Fabric in the big tour.