Farukh Kitchlew | Dec 6, 2023 | 0
MedUX Secures €4.1 Million Funding for International Growth and Innovation in QoE Industry
MedUX, a Madrid-based multinational company specializing in measuring, monitoring, and improving telecommunications networks’ user experience and quality, has recently secured €4.1 million in a successful financing round. The funding was from significant investment firms BTS, Inveready, and some family offices and investors with solid technology, media, and telecommunication positions. The new capital injection would support MedUX’s plans for international growth and expansion, consolidation in Latin America, product innovation, and the scale of its QoE Everywhere suite.
As a leader in Quality of Service (QoS) and Quality of Experience (QoE) testing and monitoring, MedUX operates in over 25 countries, monitoring over 80 operators. Given its success in international markets, the financing further strengthens the Company’s position within this sector.
In appreciation of investors’ continued support and devotion to MedUX clients and portfolio expansion including flagship projects in Latin America, the company’s CEO, Luis Miguel Molina, thanked them. The financing will enable MedUX’s unique value proposition through the multiplatform measurement ecosystem.
With this new funding, MedUX intends to expand its comprehensive QoE testing and monitoring solution portfolio through the QQ Everywhere suite. In addition, the company plans strategic projects in new markets, including Chile and Colombia. In Chile, MedUX intends to establish an ITB of independent experts to measure Internet speed to set new quality standards throughout the region. The company will deploy a massive crowdsourcing system in Colombia to measure mobile data quality indicators, empowering end-users and collecting QoS information from ISP’s customer care applications.
To ensure quality and regulatory compliance and optimize network performance to enhance customer experiences, the MedUX Everywhere suite of QoE offers real-time customers’ perspective data, advanced analytical capabilities, and insight. The company’s successful 2022, marked by impressive revenue growth, expansion of the customer base, global presence, and innovative projects such as the 5G QoE benchmarking campaign in Europe, positions MedUX for continued growth and success.
The financing of MedUX, in conjunction with its organic and INOX growth plan for 2023, will reinforce the company’s global presence. The company is focused on increasing recurring revenues and expanding its international footprint while delivering valuable insights to improve networks and enhance user satisfaction in the Digital Era. With its dedication to sustained profitability and long-term growth, MedUX is well-positioned to seize emerging opportunities in the telecommunications industry and offer innovative solutions that improve service quality and customer experiences.