Pareteum raises $17.5M to accelerate growth and new product development

Pareteum, a global cloud communications platform company, announced that the Company closed the issuance of $17.5 million in Senior Secured Convertible Notes, with warrants, to an institutional investor. The net proceeds to the Company will be $14 million. The net proceeds from the financing will be used for working capital, general corporate purposes, growth initiatives and new product development. “This financing strengthens Pareteum’s balance sheet, provides working capital, and allows us to reinvest in growing … appeared first on Help Net Security.