Alianza Raises $61 Million to Advance New Era of Cloud Communications for Service Providers
Growth capital to expand market reach and harness generative AI to expedite innovation, as Telcos migrate legacy core communications networks to the cloud
PLEASANT GROVE, Utah, Oct. 31, 2023 /PRNewswire/ -- Alianza, Inc., the leading cloud communications platform for service providers, today announced it raised $61 million in new growth equity and debt financing. The latest round reflects a 70% increase in valuation for the company since March 2021. The equity round is supported by a syndicate of undisclosed institutional investors, as well as strategic partners. The debt financing was provided by Texas Capital Bank.
Third quarter 2023 marked nine consecutive years of quarter over quarter revenue growth for Alianza. Future market opportunities remain substantial for the company with more than 100 million voice lines in North America nearing end-of-life and primed for transition from legacy TDM and softswitch infrastructure to the cloud. Alianza will allocate new funding to:
"As the industry rises to face new market dynamics and rapidly evolving innovations in technology, recent investments in Alianza mark another milestone for the company, reinforcing the power of our full-stack capabilities to enable service providers to meet the future from a position of strength," said Brian Beutler, founder and CEO of Alianza.
"Service providers are seeking next-gen voice and unified communications solutions as their existing infrastructure reaches end-of-life, and they look to improve their positioning in an increasingly competitive market," said Brent Kelly, Principal Analyst in Omdia's Digital Workplace practice. "In order for service providers to thrive, they must become more than broadband network operators. They must reduce their cost-of-service delivery while improving the end-user customers' experience. They need to transform from telcos to tech-cos. Alianza is well positioned to help service providers as they navigate this transition."
View original content to download multimedia:https://www.prnewswire.com/news-releases/alianza-raises-61-million-to-advance-new-era-of-cloud-communications-for-service-providers-301972464.html
SOURCE Alianza Inc