Madrid-based MedUX closes a €4.1 million funding round to fuel international growth & product innovation | EU-Startups
MedUX is a Madrid-based multinational company that specialises in the measurement, monitoring and improvement of the user experience and quality of telecommunications, fixed, mobile and television networks it is one of the leading internet Quality of Experience (QoE) companies. Founded in 2014, they proudly announced today the successful completion of a €4.1 million financing round, securing funding from prominent venture capital firms BTS Group and Inveready, as well as a group of family offices and investors with significant positions in other companies in the TMT sector.
MedUX is committed to improving service quality and the customer experience in the QoE industry. The fresh capital will facilitate the company’s plans for international growth, organic and inorganic expansion, consolidation of its leading position in Latin America, product innovation, and the scaling of its QoE Everywhere suite.
Luis Molina, CEO of MedUX, expressed his gratitude to the investors for their continuous support and commitment to MedUX’s clients, portfolio expansion, and flagship projects in Latin America. He emphasized the importance of the new capital in advancing MedUX’s unique value proposition with a multiplatform measurement ecosystem.
As a multinational leader in QoS and QoE testing and monitoring, MedUX operates in over 25 countries, monitoring more than 80 operators. The recent funding round further strengthens the company’s position in the industry and demonstrates the success of its international business. Molina noted: “MedUX has invested in top talent and state-of-the-art technology to solidify its reputation as a leader in QoS/QoE testing within the telecommunications industry.”
The new funding will allow MedUX to offer a comprehensive portfolio of QoE testing and monitoring solutions through its QoE Everywhere suite. Additionally, the company plans to execute strategic projects in new markets, including Chile and Colombia, where they want to introduce innovative initiatives to enhance internet speed measurement and implement a massive crowdsourcing system for mobile data quality indicators.
MedUX’s QoE Everywhere suite focuses on providing real-time customer perspective data and advanced analytics, enabling businesses to ensure quality and regulatory compliance, optimize networks, and enhance customer experiences. The company’s success in 2022, characterized by impressive revenue growth, expansion of its customer base and global presence, and the launch of innovative projects such as the 5G QoE benchmarking campaign in Europe, positions MedUX for continued growth and success.
The funding round will also support MedUX’s organic and inorganic growth plans for 2023, with a vision to increase recurring revenues and expand its international presence in the years to come. The company remains dedicated to driving sustained profitability, long-term growth, and delivering valuable insights to improve networks and user satisfaction in the Digital Era.
If you want to learn more about MedUx, check the video below recorded earlier this year at the Mobile World Congress 2023 (MWC23).