MedUX secures a €4.1M funding round to fuel international growth & product innovation!
MedUX, the leading internet Quality of Experience (QoE) testing and monitoring company, that provides a one-stop-shop QoE suite for all operators’ and governments’ needs, announced today it has raised €4.1 million funding with participation of existing investors BTS Group and Inveready, as well as a group of family offices and investors with significant positions in other companies in the TMT sector.
The funding comes at a time of growth for MedUX and after excellent 2022 financial results. As part of its strategic plans, MedUX will use this capital to fuel its international growth, implement our organic and inorganic growth plan, consolidate its leading position in the Latin America region, further invest in product innovation and scaleup its value proposition offering QoE everywhere.
Luis Molina, MedUX CEO, reported, “We are very grateful to all the investors for the continuous support and strong commitment with our international clients, our product portfolio expansion and our flagship projects in Latin America. This new capital allows us to take another leap forward in our unique value proposition with a multiplatform measurement ecosystem.”
MedUX has cemented its position as a leading multinational in the field of Quality of Service (QoS) and Quality of Experience (QoE) testing and monitoring, with a presence in more than 25 countries and monitoring over 60 operators.
Luis also commented, “Our strong results demonstrate the success of our international business. We have invested in fantastic people and state-of-the-art technology and continue to extend our reputation as a leader in the QoS/QoE testing within the telecommunications industry.”
But what does this new funding round mean for MedUX exactly?
This investment will not only reinforce MedUX’s international presence, but will also drive an even more comprehensive portfolio of QoE testing and monitoring solutions: our QoE Everywhere suite.
These new funds will be supporting strategic projects in new markets such as Chile and Colombia. The Chilean project to implement the Independent Technical Body (ITB) for Internet speed measurement will set a new trend in the quality requirements in the region. The measurement ecosystem combines over 500 fixed and mobile testing robots for a controlled and continuous quality monitoring, with a multiplatform application for end-user speed testing from any type of terminal and operating system. The Colombian project to deploy a massive crowdsourcing system for the measurement of mobile data quality indicators is breaking new ground in empowering the end-user and collecting QoS information from ISP’s customer care applications.
The company is in a privileged position to seize emerging and untapped opportunities in the telecommunications industry and offer innovative solutions that improve service quality, customer experience and satisfaction.
Our QoE Everywhere Suite includes our multi-platform agent ecosystem for all terminal equipment types and our robots, getting real-time customer perspective data and advanced analytics to ensure quality and regulatory compliance, while also offering valuable insights for optimizing networks and improving customer experiences. It is a key growth pillar that was announced at the Mobile World Congress.
Record international growth and positive outlook
MedUX has firmly established itself as an emerging leader in network and services testing and monitoring, with a highly effective and innovative solution compared with alternative approaches being offered in the market.
2022 was an exceptional year for MedUX, marked by a series of important achievements and outstanding results. The company delivered solid growth, expanded its customer base and global presence, and carried out the launch of unique 5G QoE benchmarking campaign in Europe.
Key achievements in 2022:
- Revenues nearly doubled compared to the previous year, exceeding 8.4 million euros. This impressive growth is a testament to the success and demand for MedUX solutions and services in the market.
- Expanded customer base and global presence, with 15 new customers among telecommunications operators and regulators. The company also expanded its presence to 7 new countries, strengthening its global reach and ability to offer market-leading solutions globally, especially in Latin America, Africa, Europe and the Middle East.
- Expanded QoE testing and monitoring portfolio, multi-platform, 5G and Wi-Fi 6 ready, becoming the first vendor in integrating robots (active probing) and agents with own full-stack of technology (HW, SW, Infrastructure, Analytics).
- Developed innovative customer-centric use cases, which translated into new regulatory projects in Chile and Colombia, as well as into the first 5G QoE benchmarking firs-of-its-kind in Europe.
While 2022 was a year of outstanding results for MedUX, the funding round will allow the company to continue implementing our organic and inorganic growth plan in 2023, with the objective of multiplying our recurring revenues and expanding our international presence over the next few years. MedUX will continue to chart the path to sustained profitability and long-term growth, while providing valuable insights to improve networks and user satisfaction in the Digital Era.
MedUX is a Spanish multinational company that specializes in the measurement, monitoring and improvement of the user experience and quality of telecommunications, fixed, mobile and television networks.
Founded in 2014, the company has a presence in more than 20 countries, mainly in Europe and Latin America but also in Africa and the Middle East. In addition, it has a team of approximately 50 people at its headquarters in Madrid (Spain) and offices in Miami (USA), Bogotá (CO), Mexico City (MEX), San José (CR) and Zaragoza (Spain).
MedUX’s innovative technology makes it possible to offer operators, regulators and companies from other sectors independent quality statistics and real-time experience.
MedUX has proprietary technology, both hardware and software, which has been recognized with several patents from the United States Patent and Trademark Office (USPTO) for its fixed, mobile and television measurement robots and its proprietary speed test. MedUX already has methodologies and equipment ready to measure the latest technologies, specifically FTTH and Wi-Fi 6 in the field of fixed networks and 5G in mobile networks.
Today, the company monitors and compares the services and user experience of more than 60 operators around the world, and its clients include large national and international telecommunications groups, such as Vodafone, Orange, Telefónica, Millicom, América Móvil/Claro and AT&T, and government entities, including Mineco (Spain), SUTEL (Costa Rica), TRA (UAE), SIGET (El Salvador) and CRC (Colombia). Among the most common use cases are competitive intelligence (benchmarking), network monitoring and optimization and regulatory compliance.
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In MedUX, we are glad to announce that our company has closed a Series B funding round with SONAE Investment Management (SONAE IM) in the second quarter of 2018. After last year’s 3.5 million Euro funding round led by Inveready Technology Investment Group, which triggered our international…