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March 13, 2008

Vontoo Asks For And Receives $2M Series A

By Arwen Unger - VentureWire Professional

Indianapolis, IN -- (March 13, 2008)

In order to propel its growth, Vontoo Inc., a permission-based automated voice message company, has raised a $2 million Series A round of funding.

Dustin Sapp, the company's president, declined to reveal a valuation for the round, which was provided by EDF Ventures and individual investors.

This is the first venture capital round for the Indianapolis-based company, which had previously raised an undisclosed amount of investment from individual investors since its inception in 2005.

Vontoo has developed a system that enables companies to send targeted messages to consumers, who give their permission by asking for more information about products on a company's Web site or signing up to be a supporter of a campaign.

For example, a collections agency might automate the process of alerting customers of past-due bills.

Vontoo has about 800 clients, according to a company press release, including the Portland Trailblazers Inc. and Bi-Rite Co. Inc's Buddy's Home Furnishings.

The funds will be used for general growth as well as to hire more employees. The company currently has more than fifteen employees, Sapp said. He declined to say how long he expected the funds to last.

Mary Campbell, managing director of EDF Ventures, will join the company's board of directors.


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