IntelePeer Procures Additional Financing for Augmenting Development
IntelePeer, Inc. has successfully accomplished a supplementary round of funding, which was received from a group of present investors. Different rounds of financing will be introduced by IntelePeer for its venture of buying $15 million worth of favored stock by the end of June 2013.
The present round of financing saw investments from VantagePoint Capital Partners, Kennet Venture Partners, EDF Ventures and Northcap Partner. The overall equity investment in IntelePeer with this supplementary investment is now at least $50 million.
The money received will be utilized to step up customer take over, product expansion and entry into fresh markets. There is an increased requirement for Unified Communications or UC solutions from both service providers and enterprise customers. In 2012, IntelePeer's CloudWorx cloud communications platform was used to make a minimum of 30 billion voice and video calls. In the same year, the number of business clients increased by at least 80 percent due to the development in the Enterprise arena, wherein IntelePeer services were used to migrate from the traditional communications technologies to UC and IP.
In a statement, Frank Fawzi, chairman and CEO, IntelePeer said, "2012 showed an impressive rate of customer acquisition, driven by the shift of communications technologies to IP and the Cloud. Enterprises are accelerating their transition to UC and SIP trunking to support advanced collaboration features that are only available from an all-IP, cloud-based platform. We are honored to partner with leading investors who share our vision to capitalize on this growth opportunity."
IntelePeer, Inc. is a major provider of on-demand, cloud-based communications services. The organization offers best-in-class voice, video and unified communications especially for enterprises and service providers. The SuperRegistry database, a widespread Media Peering Grid service, and the AppWorx development environment and tools are merged by the IntelePeer CloudWorx platform. The SuperRegistry database is a smart routing solution with an international directory of a minimum of 450 million telephone numbers and end-point identifying IP addresses.
Customers can migrate to IP-based communications with assistance from IntelePeer in a swift and economical manner, thereby augmenting their return on investment on communications equipment and services and uniting their networks across the globe.
Edited by Rory J. Thompson