Israeli start-up Jungo Ltd. today announced that it has signed a contract with one of the largest US communications providers, which has a market cap of $100 billion. The contract is worth an initial $4 million, and is expected to grow to several tens of millions of dollars over the coming years. Jungo will supply its latest platform for maximizing Internet Protocol television (IPTV) capabilities for residential gateways.
Jungo develops residential and business gateway software platforms and applications. Jungo president and CEO Ofer Vilenski and CTO Derry Shribman founded the company in 1998. The company has raised $13.5 million from Infineon Ventures, Intel Communications Fund, US-French fund Partech International, Conexant Systems (Nasdaq: CNXT), and TeleSoft Partners. The company has 140 employees and agreements with some of the world’s largest communications equipment vendors, including Cisco Systems (Nasdaq: CSCO) division LinkSys, Netgear (Nasdaq: NTGR), and US Robotics.
Jungo’s platform enable telephony service providers to offer customers richer and more varied digital content over residential networks while minimizing network resources. The remote installed platform enables telephony providers to stay competitive, and offer customers new revenue-generating services, such as IPTV, video-on-demand (VOD), voice-over-Internet Protocol (VoIP), and Internet Protocol private branch exchange (IPPBX).
Jungo said the remote installation, repair and upgrade capabilities dramatically reduce service providers’ operating costs to the home and office, allowing them to slash customer service prices.
Published by Globes [online], Israel business news - www.globes.co.il - on July 10, 2006
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