IT networks company Teneno has successfully raised its £150,000 funding target during its equity crowdfunding campaign on Seedrs.
As previously reported, Teneno is based in London and has offices in New York and Hyderabad. The company offers technology that simplifies mid-sized for small and mid-sized businesses, giving them the same capabilities that large enterprises enjoy for a fraction of the price. Teneno revealed it allows SMEs to move away from outdated hardware solutions by banishing the need for those industrial cabinets found in most office spaces today. Instead, it replaces expensive hardware with agile software making it more simple, accessible, secure, cost effective and hassle free to create their own network. The company revealed:
“Teneno has a lean cost structure. We have developed our own development center in Hyderabad India and trained up an experienced team to develop our SDN based solutions. Our development and operational burn rate is £10K a month*. Furthermore, to achieve our 2016 targets and run our marketing, social and PR campaigns we will require another £2,500 a month to acquire customers. The £150,000 will last us one year.”
While sharing details about the company, Jean Salha, CEO of Teneno, recently stated:
“Having worked in the IT industry for over 25 years it became clear to me that there wasn’t an easy way for SMEs to manage their own IT systems. There are many IT network solutions on the market, but Teneno stands out because of its enterprise level functionality – including security, accessibility – and incorporating easy of use for businesses without dedicated IT support.”
Funds from the campaign will be used for growth and expansion.
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