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