Nokia Growth Partners, a corporate venturing unit of the Finland-based mobile handset maker, backed US-based cloud services company Intermedia on Wednesday last week.
Intermedia was founded in 1995. In May 2011 the company was bought by private equity firm Oak Hill Capital Partners for an undisclosed sum. It has grown its user base more than 40% on last year, Intermedia said.
Paul Asel, managing partner of Nokia Growth Partners, said: "Nokia Growth Partners invests in industry leading companies that are changing the face of mobility and whose businesses can benefit from a deeper relationship with Nokia. Intermedia is a leader in cloud-based enterprise services, a rapidly changing market where mobile offerings will be important. We are excited to work with Intermedia to help them achieve their strategic goals and full potential in the area of global mobility."