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 the Editor of Commsrisk. Look here for more about the history of Commsrisk and the role played by Eric.

Eric is also the Chief Executive of the Risk & Assurance Group (RAG), a global association of professionals working in risk management and business assurance for communications providers.

Previously Eric was Director of Risk Management for Qatar Telecom and he has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and other telcos. He was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.