US$5m Dollar Credit Line for cVidya

Israeli venture lenders Plenus have arranged a new US$5m credit facility for cVidya, the VC-backed revenue assurance vendors. Look here to see the news from the Plenus website.

Unusually, no mention is made of the credit facility on cVidya’s website. Some in the industry complain that cVidya issue too many press releases, so perhaps this signals a more conservative approach to communicating their business performance. Not surprisingly, that has not stopped them heralding a new ‘multi-million dollar’ sale to South African network MTN. Based on the information published at Globes, the Israeli business daily, the MTN deal will be worth a little over US$2m to cVidya, and comes soon after a US$1m deal with Uruguayan national communications company Antel. See the Globes version of the story here.

The new credit from Plenus is nominally to assist cVidya break into the North American market. cVidya announced the opening of their Chicago office in February 2008. The Chicago office manages all their sales activities in North America. Since the office opened, there has not been any press releases announcing new sales in North America – but perhaps they are keeping quiet about them too ;)

Eric Priezkalns
Eric Priezkalns
Eric is a recognized expert on communications risk and assurance. He was Director of Risk Management for Qatar Telecom and has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and others.   Eric was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He was a founding member of Qatar's National Committee for Internet Safety and the first leader of the TM Forum's Enterprise Risk Management team. Eric currently sits on the committee of the Risk & Assurance Group, and is an editorial advisor to Black Swan. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.   Commsrisk is edited by Eric. Look here for more about Eric's history as editor.