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Earlybird closes growth financing round with nfon AG

Hamburg/Munich, December 1, 2010 – Earlybird today announces the closing of a growth financing round with nfon AG, one of the leading providers of outsourced telephone systems (IP Centrex) located in Munich, Germany. Based on this year’s positive business performance, lead investor Earlybird and co-investors High-Tech Gruenderfonds, MIG Fonds and BayBG have committed four million Euros to further fuel the company’s significant growth by providing the means to boost the scaling of nfon’s business.

nfon has signed up over 100 new distributors since June 2010 and has tripled their revenues compared to the previous financial year. With the additional funding, nfon aims to significantly multiply the monthly acquisition of new customers for their meanwhile technologically proven and very prosperous business concept over the next 12 months.

“Our tremendous success since the launch of our nfon partner program demonstrates that we are heading in the right direction. Now is the time to invest heavily,” says Marcus Otto, CEO of nfon AG.

nfon wants to significantly raise market awareness of outsourced telephone systems in the future. “Estimates indicate that, up to now, only 20 percent of companies are aware of the existence of IP Centrex products. We see a strong potential for growth against this backdrop. Our investors share this reading,” Otto says.

Ealybird Managing Partner Dr. Hendrik Brandis reinforces: “The management team has found ideal distribution channels to further boost their business. Now that nfon’s business model has been technologically validated and has proved its impressive scalability, there is no doubt that it makes sense to provide the financial means to vigorously expand these structures.”

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