TMCnet News
VoIP Check: Versatel Networks Announces $10 Million in FundingBy TED GLANZER
TMCnet Communications and Broadband Columnist
Capitalizing on the explosion of the personalized telephony market, Versatel Networks, a provider of VoIP gateway and service delivery solutions for telecom service providers, announced on Thursday that it secured $10 million from existing investors in a round of funding.
According to a press statement, the funding will enable Versatel to continue its efforts to "dominate" the independent telephone company and large carrier markets with its Enhanced Services Platform. Specifically, Versatel will expand its EdgeIQ suite of products with "personalized services and exciting technology to drive the next wave of convergence."
"Versatel intends to remain at the forefront of the next generation telephony market and we are delighted to have an influential and innovative group of investors as our partners in this adventure," Versatel Networks CEO Robert Mimeault said in a prepared statement.
Investors were equally optimistic with regard to Versatel's position in the market.
"We are pleased to invest in this next phase of commercial growth at Versatel Networks," Andre Vaillant, managing partner at Multiple Capital Inc, said in a prepared statement. "VoIP has demonstrated that significant changes are required in the approach which service providers use for their business models. With its proven technology, Versatel is well positioned to become the dominant player in this emerging market, allowing industry leading returns on their investment."
-----
Ted Glanzer is assistant editor for TMCnet. For more articles by Ted Glanzer, please visit:
|