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Voxeo raises $9 million

Acquired three companies in the past 14 months and looking for more

Financial trends and news by Chris Caceres
November 13, 2009 | Comments
Short URL: http://vator.tv/n/bd7

Voxeo, a company which provides Internet and VoIP communication services, announced a $9 million minority investment by North Atlantic Capital and the Florida Growth Fund.  The Florida-based company previously raised $48 million from Crosspoint Venture Partners and the Mayfield Fund.

Founded around 10 years ago, Voxeo is definitely seeing growth.  Jonathan Taylor, CEO of Voxeo said, "Over the last five years Voxeo has grown revenue 1,361% and grown to become the world-wide leader in Unlocked Communications.  This investment allows us to further accelerate our growth both organically and through acquisitions of complementary and competitive companies."

The company has already acquired three companies in the past 14 months which include IMified, VoiceObjects and Micromethod Technologies.  

It refers to its key product as "Unocked Communications."  Voxeo said it works to unlock the neglected value of communication tools like SMS, instant messaging, Twitter, web chat, and mobile communication, with open standards.  Its products are available as both an on-premise, traditional software license and as on-demand, hosted, Software as a Service (SaaS) solutions.  So far, Voxeo claims it does this for more than 100,000 developers, 45,000 companies and half of the Fortune 100.  

Voxeo plans to use the funds to accelerate internal development of its products and make more acquisitions. 
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