SOURCE: IntelePeer

November 11, 2008 08:05 ET

IntelePeer Raises $18 Million in New Funding to Support Rapid Global Growth of Hosted Voice 2.0 and Rich Media Technologies

VantagePoint Venture Partners Leads Investment Round to Accelerate Deployment of Global Voice Peering Network With Hosted Rich Media Communications Applications

SAN MATEO, CA--(Marketwire - November 11, 2008) - IntelePeer, Inc., a leader in hosted on-demand rich media communications, today announced that it has completed its third round of financing of $18 million. The financing was led by new investor VantagePoint Venture Partners of San Bruno, California, with participation by existing investors.

The funds will be used to expand IntelePeer's global presence and to support business and technology development of its hosted on-demand rich media services and extensive voice peering grid. The company's technology and services are used by software vendors, carriers and online businesses to easily deliver cost-effective voice and multimedia capabilities from within an enterprise application or Web workflow to any phone or network-connected device.

Voice 2.0 integrates multiple forms of media (voice, data and video) into enterprise applications and Web workflows to provide a highly personalized and powerful user experience.

"IntelePeer is uniquely positioned with its game-changing strategy to address the need to reduce operational costs with an innovative hosted Voice 2.0 applications platform and carrier-class voice peering infrastructure," said Bill Harding, managing director, VantagePoint Venture Partners and new member of the IntelePeer board of directors. "The company's strong leadership team has achieved rapid and continuous revenue growth each quarter and has attained positive cash flow ahead of plan, a remarkable achievement in this financial environment."

"We value the addition of VantagePoint Venture Partners as a member of our investment team. They bring a unique vision for Voice 2.0 applications and have a strong record of supporting companies in high-growth markets. This investment team provides a solid foundation to support IntelePeer through our rapid expansion," said Frank Fawzi, IntelePeer chairman and CEO. "Our solid performance and strong balance sheet allow us to focus on expanding our customer base and gaining greater competitive advantage to build market share."

IntelePeer's AppworX™ open communications platform and voice peering grid network gives application developers the ability to create high-quality interactive voice, video, SMS, data and other rich media services that boost productivity while reducing telecommunications and operational expenses through the hosted business model. A communications-as-a-service (CaaS) offering, IntelePeer AppworX is ideal for increasing collaboration among business application users, fostering closer connections with customers and introducing communications-enabled business processes that drive efficiency and deliver cost savings.

"IntelePeer was founded on the vision of a worldwide integrated platform that includes communications-enabled business processes and applications that are integrated with a world-class registry and voice peering grid to deliver very high performance and reliability," said Haydar Haba, IntelePeer founder and chief visionary officer. "This solid architecture has allowed us to create a foundation that sets us apart, ensuring that all of our rich media technologies and services provide superior value and quality. As a result, our partners and customers gain the tremendous cost savings and productivity benefits from our Voice 2.0 platform, along with the peace of mind that comes with using a carrier-grade service."

Unlike low-cost consumer VoIP services, IntelePeer combines the best of Web 2.0 and Voice 2.0 technologies with the company's own carrier-grade telecommunications voice peering network. This superior infrastructure is critical to deliver the high-quality transmission of voice and related rich media services to users' wireline or wireless device of choice that meets the demanding service levels required by businesses and enterprises. Worldwide reach is achieved through IntelePeer's redundant network peering grid infrastructure that already handles billions of voice minutes per year and its direct connections with more than 50 service providers around the globe.

About VantagePoint Venture Partners

VantagePoint Venture Partners is a leader in investing in 21st century technologies and partners with entrepreneurs in the CleanTech, Healthcare and Information Technology sectors. With a large investment team of experts, a broad network of strategic partners and advisors, and more than $4.5 billion in committed capital, the Firm has the depth of resources to help build transformative companies that are clear leaders in their categories. The Silicon Valley Firm has investments in more than 70 companies including Better Place, BrightSource Energy, Gain Capital, Mascoma, Miasole, Premium Power, ReachLocal and others. For more information visit www.vpvp.com.

About IntelePeer

IntelePeer, www.IntelePeer.com, a leader in hosted on-demand rich media communications, enables carriers, businesses and software vendors to easily deliver voice and multimedia capabilities to any phone or network-connected device -- without incurring up-front capital costs. Through our innovative, communications-as-a-service (CaaS) platform, IntelePeer AppworX™, our SuperRegistry™ and our extensive peering grid, we provide our customers with the platform to offer high-quality interactive voice, video, SMS, data and other rich-media services while providing significant cost savings for their telecommunication expenditures. Through intuitive APIs, Web Services, and brandable widgets and applets, IntelePeer removes the complexity of telecom and opens network functions to mainstream developers who are creating voice-Web "mashups" and communications-enabled business processes embedded into enterprise, webcasting, social networking, entertainment and e-commerce applications. Business professionals who use customer relationship management (CRM) software and common desktop applications such as calendaring and contact management also rely on us for instant access to bridge-to-services, voice blast, video blast, text-to-speech, conferencing and other features that enable communications-enhanced business processes that drive efficiency and deliver cost savings. Based in San Mateo, Calif., we operate our own carrier-grade network carrying more than 6 billion minutes, with worldwide coverage delivered through an IP and TDM peering grid with over 50 leading service provider peering partners. IntelePeer is privately held and is backed by venture capital firms VantagePoint Venture Partners, Kennet Venture Partners, NorthCap Partners and EDF Ventures.

IntelePeer, IntelePeer AppworX and SuperRegistry are trademarks of IntelePeer, Inc. All rights reserved worldwide. Other trademarks referenced are the property of their respective owners.

Contact Information

  • PR Contact:
    Samantha Singh
    The Hoffman Agency for IntelePeer, Inc.
    (408) 975-3087
    ssingh@hoffman.com