The company said the investment will enable it “to explore further M&A opportunities, broaden its channel-focused product suite, increase headcount to better serve its customers, and surpass 400,000 active users by the end of 2024”.
Russell Lux, founder and CEO, TelcoSwitch (pictured), said, “This is a hugely exciting time for everyone involved with TelcoSwitch. In under six years we’ve grown a successful channel business that continues to challenge the status quo in our industry with powerful products and services. The team at QPE share our energy and enthusiasm, and we’re delighted to have their long-term support in accelerating our strategy and ambitions.”
Nick Manning, private equity investor, Queen’s Park Equity, added, “We are very excited to be supporting TelcoSwitch to build on the impressive growth the team have achieved in recent years. Their success is testament to both the quality of the underlying technology and the strength of the management team which has positioned TelcoSwitch perfectly to continue its exceptional growth story.”
TelcoSwitch’s executive management structure will remain unchanged following the investment, with Jonny Kay and Nick Manning from QPE will join the TelcoSwitch board of directors.
TelcoSwitch has completed several acquisitions in the last 18 months, including OneVoice, PBX Hosting, and SureVoIP.