Sign In

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.


Surf Communication Solutions Completes $8M Funding Round Led by Poalim Ventures

SURF Communication Solutions (“Surf”), a provider of software and hardware-based media processing solutions, announced today the completion of a funding round for the Company totaling $8 million dollars. The funding round was led by Poalim Ventures, the venture capital arm of Poalim Capital Markets. The majority of existing large shareholders in the Company, such as Giza, Pitango, BOS, and Texas Instruments Incorporated (“TI”), took part in the current round, an expression of their confidence and full support for the Company.

Surf is the first company to support convergence of all media types – voice, video and data – over various networks (IP, mobile, wireline, and wireless), running simultaneously on a single DSP, or over boards carrying multiple DSPs to enable high capacity propagation.

Eran Gersht, CEO of Poalim Ventures, said that the decision to invest in Surf and to lead the funding round was taken after a thorough due diligence of the Company’s capabilities and potential for growth. “Surf is a veteran company that over the years has built up significant technological assets. In the re-structuring effort that took place approximately two and a half years ago, several key personnel were recruited, including new members of management. The Company decided to focus on the development of software and hardware media processing solutions for voice, video and data, a field in which the Company is considered a leader,” added Gersht.

Numbering amongst Surf’s customers are several leading international Tier-1 companies. In addition, Surf has signed a strategic partnership agreement with TI, already mentioned above as one of the companies that took part in the current funding round, as well as in a previous round in 1999.

Eyal Zagagi, President and CEO of Surf, said that the strategy established by the company a year and a half ago has proven itself to be correct and that an excellent situation has been created whereby a clear requirement exists in the market for products for which Surf possesses a unique advantage. “Surf has succeeded in significantly increasing revenues over the past few quarters. Suffice it to say that the revenues for the first half of 2006 have already surpassed revenues for all of 2005. The current funding will enable the Company to expand into additional international markets, to increase our activities in existing markets, and to duplicate the existing company successes in Europe and North America. We are glad that Poalim Ventures has joined our current shareholders, and welcome their representative to the Company’s board of directors,” stated Zagagi.

Publisher Contact Information:

Surf Communication Solutions, Ltd.
+972 4 9095713

Company profile of Surf Communication Solutions, Ltd.
Past press releases of Surf Communication Solutions, Ltd. .


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

Oct 19€3.0MInternet services
Oct 19€6.0MBusiness applications
Oct 18€11.0MConsumer electronics
Oct 18€5.0MBusiness applications
Oct 17€5.9MBiopharmaceuticals
Oct 16€3.7MContent management
Oct 16€7.8MSensors

For information on Europe's most extensive database on technology funding click here!


Press Releases

May 28
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
nethone raised over $1 million from innovation nest

Oct 1
The Link App
the link app launches version 2.0

Mar 29
Addex Therapeutics
addex sucessfully raises chf40 million in capital increase

Jan 2
Urban Jungle
urban jungle raises £1m in seed funding to build tech-enabled home ...

About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.