SEGRON Announces New Funding Round to Expand Into Industries Building Back From COVID-19 and Accelerating Digital Transformation
SEGRON, a leader in the next generation of active testing, today announces the completion of a new round of funding, bringing total capital raised to-date up to $10million. The funding round, led by OTB Ventures and Credo, comes amid significant momentum for the business, having achieved a leadership position in automation services for the telecoms industry. Proceeds from the raise will be used to fund international growth and expand into new industry verticals that are seeing a resurgence of demand and accelerated digital adoption as a result of the progression of the Covid-19 pandemic.
International scale to capture a $35bn market opportunity
SEGRON offers automated solutions to test new digital services in any location, with any device, anytime. SEGRON’s leadership position in test automation solutions for the telecoms ecosystem enables operators including Telefonica, T-Mobile Group and Swisscom to ensure optimal service quality for end-subscribers while enabling faster go-to-market for next-generation 5G and IoT services.
SEGRON’s success with telecoms operators in the European Union is now attracting attention from a wide array of international players in the global telecoms market. With Covid-19 increasing demand for telecoms services SEGRON has become an attractive partner for telecoms operators facing increased pressures to roll out next-generation networks at pace. This includes expansion into North America with a new agreement with a Canadian telecoms operator. In the year ahead, SEGRON is expecting to expand its global presence further to Middle East and Africa and the Asia-Pacific region.
Expanding from telecoms industry to e-commerce, automotive and consumer electronics
Automated testing also enables businesses undergoing rapid digital transformation to accommodate the growing list of testing requirements to ensure a high-performing user experience. SEGRON’s leadership in the telecoms industry has built momentum to expand into e-commerce, automotive and consumer electronics, with the first major OEM announced in the consumer electronics industry today as global handset manufacturer. The advanced AI based testing automation solution helps to keep pace with the mobile devices evolution, ensuring day 1 availability even with pre-released devices for testing automation.
Today’s new funding enables SEGRON to further expand into these adjacent industries and deploy automated testing solutions to enhance the end user experience while shortening the time-to-market for new products and services. In the next few years, the Company will focus on AI and anticipates the launch of a new product, Global Service Enabler in April 2021 which helps verify the performance of digital services over international and roaming networks from any location.
With the market dynamics in telecoms and new industry verticals, SEGRON anticipates growing by over 300% in the year ahead to achieve annual recurring revenues in excess of $5m on a run-rate basis.
According to Global Market Insights, the automation testing market is expected to grow at 15% CAGR between 2020 and 2026, reaching an estimated global market value of $35bn.
Hiring new talents for accelerated growth
In conjunction with today’s new funding round, SEGRON also announces the appointment of three new executives to the senior management team - Jean-Philippe Leloup joins as Deputy Chief Executive Officer, Rita D’Agostino joins as Chief Marketing Officer and Martin Hochmeister joins as Chief Revenue Officer.
Martin Hochmeister joined with leadership experience in technology business environments, most recently with automation business Scanpoint GMBH where he ran sales and marketing as the business scaled-up its growth within Europe. Rita D’Agostino joined SEGRON with international experience in digital marketing and big data. Rita’s background is in the automotive industry, with a career spanning Fiat Chrysler Automobiles, Kia Corporation and Maserati.
Jean-Philippe Leloup joined SEGRON from IDI Group LLC, an investor in early stage companies playing an active role in business development and value creation. Similar to Rita D’Agostino, Jean-Philippe previously worked in the automotive industry, leading Ferrari's business operations in central and eastern Europe before building Maserati Commercial as a new division within the Italian automaker.
Wireless connectivity in the automotive industry makes SEGRON a highly compelling partner for automotive OEMs looking to adopt technologies ranging from automated robotic assembly lines to self-driving cars. The vast bandwidth and low latency of wireless communication between devices and control systems require continuous and fully automated testing, creating a new market opportunity for SEGRON’s automation solutions.
As SEGRON looks to expand its industrial scale in new industries and international markets, it is anticipated that its workforce will increase by 30% by the end of 2021.
Rob Mindell / Valerija Cymbal
T: +44 20 3727 1000
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Rockwell Automation and Comau Partner to Simplify Robot Integration for Manufacturers20.4.2021 10:30:00 EEST | Press release
Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, and Comau, a global leader in industrial automation and robot manufacturer, announced today that they are joining forces to give businesses worldwide vital tools to maximize manufacturing efficiencies through unified robot control solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210420005326/en/ Comau Rebel-S (Photo: Business Wire) “Industrial companies are looking for efficient ways to integrate robotics into their operations for process optimization and agility,” said Rockwell Automation Chairman and CEO Blake Moret. “Rockwell Automation’s collaboration with Comau will simplify programming and lifecycle management, accelerating time to value for our customers.” Moret said this expansion of robotic applications is rooted in Rockwell’s broader strategy to help industrial companies save ti
iProov Face Verification Selected by itsme® to Support Global Expansion20.4.2021 08:00:00 EEST | Press release
British company iProov has today announced that European digital identity leader, itsme®, has selected iProov’s Genuine Presence Assurance® technology to support its global expansion. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210419006005/en/ iProov's Genuine Presence Assurance® technology enables enterprises to securely verify the identity of customers online. (Photo: Business Wire) Launched in 2017 by qualified trust service provider, Belgian Mobile ID, itsme® is Belgium's digital identity app. It is currently used by more than 35% of the Belgian population and is relied on by more than 150 companies in the private sector (banks, insurance companies etc) and by the Belgian government. From now, users in the Netherlands will also have access to itsme®’s trusted ID solution and will be able to securely authenticate themselves and onboard to digital services. iProov will verify the faces of new users, whatever their mobi
Sale of 60.5% of ENGIE EPS by ENGIE to TCC: ENGIE EPS to Become NHOA20.4.2021 08:00:00 EEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210419005984/en/ (Photo: Business Wire) ENGIE has announced the signing of a Sale Purchase Agreement with Taiwanese company TCC for its 60.5% stake in the share capital of ENGIE EPS (Paris:EPS). TCC, with an over $10 billion market capitalization, is one of the pre-eminent industrial groups in Asia, with activities in battery manufacturing, cement production, power generation, environmental services, chemicals, logistics and infrastructures. TCC has been very active in recent years in developing renewable energy and energy storage systems. The completion of the transaction, executed at Euro 17.10 per share, corresponding to an aggregate consideration of Euro 132 million and an implied Enterprise Value of over Euro 240 million, will be followed, in accordance with applicable regulations, by the filing of an all-cash simplified mandatory tender offer for all outst
Beeline Russia and P.I. Works Expand Partnership Scope with Automated Radio Access Network Planning20.4.2021 08:00:00 EEST | Press release
Beeline, Russia’s established mobile operator, has partnered with P.I. Works on network planning project, aimed at streamlining the operator’s investment planning processes and revolutionizing customer experience. As a part of the project, P.I. Works SmartPlan, the cutting-edge automated and AI driven network planning solution, will be deployed nationwide. Prior to this agreement, P.I. Works provided network planning services for Beeline, which exemplified the SmartPlan’s Return on Investment and Service Quality based planning capabilities. This initial project covered three of Russia’s branches, Moscow, Krasnodar and Novosibirsk, and optimized investments by 19% for high-level technical calculations and resulted in a reduction of 23% of the number of planned sites with LTE extensions. These results highlight the investments that Beeline Russia is making in data networks, and supports the possibility of improving time-to-market, thereby paving the way to a nationwide full-scale automat
LG Chem to Accelerate the Advancement Into the Promising Carbon Nanotubes Market20.4.2021 08:00:00 EEST | Press release
LG Chem (KRX: 051910) has launched the largest Carbon Nanotube (CNT) manufacturing plant in Korea. The company is actively targeting the rapidly growing CNT market, widely used as the material for cathodes in electric vehicle batteries. On April 14th, LG Chem announced that the 1,200 metric tons (MT) expansion of Yeosu CNT 2nd Plant was completed and has begun the commercial operations. Combined with the existing 500 MT which started its first operation in 2017, LG Chem has obtained a total capacity of 1,700 MT. LG Chem’s new CNT 2nd Plant was constructed as the world’s largest single-line production facility with a self-developed fluidized bed reactor. The plant has achieved stable quality control by complete automation and reduced power consumption by 30% through process innovation. The CNT produced at this plant will be supplied to market-leading global electric vehicle battery companies as a conductive additive. Also, its applications will be extended to a wide range of fields such
Xsolla Introduces Safe and Secure Solution to Manage Worldwide Influencer Payouts for Developers of All Sizes19.4.2021 17:00:00 EEST | Press release
Xsolla, the video game commerce company powered by Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, today introduced its Influencer Payouts solution that allows developers to easily manage safe and secure payouts to influencers who promote their games. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210419005313/en/ Learn how Influencer Payouts can work for you. (Graphic: Business Wire) Xsolla’s new Influencer Payouts solution empowers developers from indie to enterprise-level with a convenient and efficient tool that can automate performance-based payments to content creators utilizing a tiered structure that can quickly be customized and scaled to reach influencers at all levels around the world. Developers can choose from multiple options for influencers, such as revenue sharing based on the number of views, direct sales, or the number of hour
VELO3D Adds Renowned Business Leader Stefan Krause to Board of Directors as Audit Committee Chair19.4.2021 16:04:00 EEST | Press release
VELO3D Inc., a leader in additive manufacturing (AM) for high-value metal parts, today announced the appointment of renowned business leader Stefan Krause to the company’s board of directors as audit committee chair. With more than 30 years of experience working at some of the most recognizable and successful companies in the world, Krause has built a singular career that previously included a chief financial officer (CFO) role at BMW – where he was the youngest ever to hold the position and a member of the management board. Krause then took on a similar role at Deutsche Bank, earning himself a reputation as one of the world’s top CFOs. He also previously served as chairman of Rolls Royce Motorcars, Postbank AG and BHF Bank. He has been in the supervisory boards of Rocket Internet and Allianz AG. Krause has also been involved with multiple startups during his career and has been CEO and co-founder of electric vehicle maker Canoo. “Stefan’s international business background, his experti
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom