EDF Ventures Announces Completion of $12 Million Financing for VoEx
ANN ARBOR, MI -- (July, 24 2006) -- EDF Ventures, a leading venture capital firm focused on early-stage investments in healthcare and information technologies, announced today the completion of a $12 million venture financing for VoEx, Inc., a leading global IP communications innovator.
VoEx serves as a VoIP interconnect, enabling different VoIP networks to be interconnected. This minimizes TDM traffic for calls between VoIP networks as well as dial-out and dial-in calls, while offering end users rich VoIP-enabled web services. To deliver this, the company offers partners an integrated, on-demand suite of VoIP applications, management tools and network services that deliver VoIP-based peering, interworking, transcoding, trunking, billing, registry and enhanced telephony services for large, communications-intensive organizations.
VoEx's current customers include the largest global IP-based voice communities as well as Tier 1 and 2 carriers, universities and enterprises. The Series B financing will be used to fuel continued global revenue growth, expansion of the VoEx carrier registry and the integrated delivery of advanced IP-based voice and messaging applications to its voice services and online community customers.
"We are very pleased to have EDF Ventures, Kennet Venture Partners and IVS joining us in our move to the forefront of the IP communications world," said VoEx Co-Founder and CEO Haydar Haba. "This round of investment is further proof of our ability to deliver high-quality, cost-effective VoIP services and applications, and we look forward to further providing our global communications services provider customers and our applications developer partners with the infrastructure needed to rapidly and efficiently expand their voice and messaging offerings to subscribers and users worldwide."
Beau Laskey, General Partner of EDF Ventures, has joined the VoEx board as a result of the investment. "VoEx is capitalizing on the very dramatic and large shift from TDM calls to VoIP calls and web-enabled services. As we continue to build out the VoEx platform and the VoIP registry, Tier 1 and 2 carrier customers and web application providers are growing and extending their use of the services delivered by VoEx," said Laskey. "We are very excited about VoEx's execution to date and their future growth opportunities."
Beau Laskey led EDF Ventures' investment in VoEx. EDF is joined by Kennet Venture Partners and IVS, a Danish venture capital firm.
About VoEx, Inc.
VoEx, Inc. is a provider of mission critical core network VoIP services to large communications services providers, universities, large enterprises and VoIP applications developers. VoEx's platform is a highly scalable, intelligent technology platform which provides a flexible and interoperable network architecture enabling VoIP origination and termination as well as cross connections across VoIP islands and between the VoIP and traditional telephony systems. VoEx supplies a complete turnkey VoIP solution that includes fully outsourced integration, Intelligent Discovery and LCR functionality, transport, protocol interworking, registry and billing functions across all of the VoEx product lines. By turning to VoEx, communications services providers gain immediate access to VoIP-based services and applications that 1) expand product sets, 2) accelerate their time-to- market, 3) reduce operating costs, and 4) increase profitability of offerings.
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