FOSTER CITY, CA - (November 12, 2008) - IntelePeer Inc., the developer of a communications platform for Internet telephony, has raised an $18 million third funding round led by newcomer VantagePoint Venture Partners and joined by previous investors EDF Ventures, IVS A/S, Kennet Partners and MG Capital Management.
Founded in 2003 and formerly known as VoEx, Foster City, Calif.-based IntelePeer has raised a total of $30.5 million in venture backing, VentureWire records show.
The company is cash-flow positive and is likely finished with fund-raising, Chief Executive Frank Fawzi said. From here on out, the company will focus on global expansion, he said.
The company last year changed its name to IntelePeer - which stands for Intelligent Communications and Peering - because VoEx implied the company is simply offering a voice exchange service using voice-over Internet protocol.
IntelePeer owns and operates its own network, Fawzi said, and counts among its customers the top wireless carriers in the U.S.
"We've created infrastructure that's structurally different," Fawzi said. "This is a hosted service" that enables users to share voice, data and video more cost-effectively.
The company offers a suite of VoIP applications, management tools and network services that deliver peering, billing, registry and enhanced telephony services, Fawzi said.
Fawzi declined to give a valuation for the company, or to disclose the company's number of employees.
The round brings VantagePoint Managing Director Bill Harding to IntelePeer's board of directors.