$4M First Round Funding for Voice Platform Developer Verascape; Board of Director Appointments Also Announced.Business Editors OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--Nov. 28, 2000 Verascape, Inc., a provider of complete voice systems for companies seeking to extend Web access to wireless and wireline phones, announced the closing of $4.1 million in first round funding today. Holden Holden, town (1990 pop. 14,628), Worcester co., central Mass., a residential suburb of Worcester; settled 1723, set off and inc. 1741. Manufactures include electrical and metal products, plastics, and machinery. Capital, a Denver-based venture capital firm, led the financing. "We believe that the best `Internet Appliance' is one's own voice", said Jim Whiteley, Chairman of Verascape. "This funding will be used to launch our network infrastructure product, which sets new levels of capacity and scalability for integrating voice access to Web data," said Mr. Whiteley. Verascape is currently testing initial product with early customers and working closely with industry leaders in the voice recognition, voice over IP and voice switching industries. "The convergence of VoIP and the voice web will pick up momentum in 2001," observed Mark Plakias, VP of Voice & Wireless Commerce at The Kelsey Group. "The resulting infrastructure will be powered by VoiceXML, VoIP standards such as SIP, and high-density platform configurations, the approach being taken by Verascape. This round is an important validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. of the need to build out the voice infrastructure and increase the velocity of applications delivery." Board of Directors Appointed Verascape also announced the appointment of its board of directors: - Michael Block, Managing Partner, Holden Capital - Scot Thomas, CEO, Experian Marketing Solutions - Jim Whiteley, CEO, Vail Systems, Inc. - John Griebling, Vice President, Aerie Networks - Jeff Bennis, President and COO, R&A Management LLC - Mil Ovan, President, Verascape, Inc. Verascape's speech systems will incorporate the latest in voice recognition technology, text-to-speech technology, VoiceXML development tools and interfaces to the Public Switched Telephone Network (PSTN (Public Switched Telephone Network) The worldwide voice telephone network. Once only an analog system, the heart of most telephone networks today is all digital. In the U.S. ) as well as VoIP networks. Built for high capacity and easy integration with existing telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. and Web environments, the Verascape speech systems will enable Voice Application Service Providers and Voice Portals An interactive voice response (IVR) front end to a data retrieval system. This does not differ in core technology from traditional IVR; rather, the difference is in the application presented. Where old-style IVR was mostly a routing application (press 1 for sales, 2 for service, etc. to implement cost-effective large-scale services. Because Verascape's speech systems allow the execution of multiple, separate applications on one installed platform, service providers can deploy and maintain one system for numerous high-volume customers. About Verascape Verascape is a privately owned company headquartered in Oakbrook Terrace, Illinois Oakbrook Terrace is a city in DuPage County, Illinois, a suburb of Chicago. The population was 2,300 at the 2000 census. A 2003 recount gave the city a population of 2,293. , approximately 15 miles west of Chicago. Providing voice system products that span today's converging con·verge v. con·verged, con·verg·ing, con·verg·es v.intr. 1. a. To tend toward or approach an intersecting point: lines that converge. b. Internet and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. industries, Verascape brings new levels of voice accessibility to e-commerce businesses, enabling companies to deliver Web content and services to more than 1.5 billion telephone users worldwide. Vail Vail (vāl), town (1990 pop. 3,569), Eagle co., W central Colo., on Gore Creek, in the Gore Range of the Rocky Mts.; founded as a ski resort 1962, inc. as a town 1966. Systems, a leader in the telephony applications industry, created Verascape in 1999 as a wholly independent company, born from Vail's extensive experience in developing voice applications and services. |
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