AVST Closes $10 Million in Series B Funding; Investors Recognize AVST's Prominence in the Evolving Enterprise Communications Market.FOOTHILL RANCH, Calif. -- Applied Voice & Speech Technologies Inc. (AVST AVST Applied Voice & Speech Technologies, Inc. AVST Applied Voice and Speech Technology AVST Automated Visual Sensitivity Tester AVST Advanced Vehicle Simulation Technique ), a leading provider of second generation communications solutions for the enterprise market, today announced further validation of its strength in the market with $10 million in new funding. Ignition Partners led the round with participation from Dolphin Equity Partners. Additionally, existing AVST investors have an option and have expressed a commitment to participate in the B round with an additional $2 million in investments. AVST plans to use the proceeds from this funding to accelerate product development and expand its sales and marketing efforts to support the increased demand for its innovative enterprise communications solutions. "This is the first institutional round of funding for AVST," said the company's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Hardy Myers Hardy Myers (born October 25 1939 in Electric Mills, Mississippi) is a lawyer and Democratic politician currently serving his third term as attorney general of the state of Oregon, United States. . "The investment by these two prestigious equity firms as well as the additional committed investment from our existing investors validates our business model and leadership position in the market. The increased capital from this fundraising will enable AVST to further accelerate the development and distribution of our world-class CallXpress(R) communications solution to meet the demands of the rapidly evolving enterprise market." Catering to businesses and organizations of all sizes, AVST has uniquely combined the strengths of its world-class unified communications The real time redirection of a voice, text or e-mail message to the device closest to the intended recipient at any given time. For example, voice calls to desk phones could be routed to the user's cellphone when required. platform, CallXpress, with its innovative speech applications platform, Seneca(TM), to create a powerful second generation enterprise communications solution. With many companies seeking to replace their first generation technology over the next 24 to 36 months, CallXpress delivers a best-of-breed solution with its broad integration capabilities, scalability, modularity and extensive feature set including advanced voice messaging Using voice mail as an alternative to electronic mail, in which voice messages are intentionally recorded, not because the recipient was not available. , unified messaging Having access to e-mail, voice mail and faxes via a common computer application or by telephone. For example, unified messaging may send faxes and digitized voice mail to a mail server that turns them into e-mail attachments. , and speech-enabled auto attendant The part of an interactive voice response (IVR) system that replaces the human operator and directs callers to the appropriate extensions or voice mailboxes. See IVR. and personal assistant capabilities. AVST has over 34,000 systems installed worldwide and an impressive list of customers, including many Fortune 500 companies, professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. teams, healthcare facilities and government agencies. AVST also has a strong long-term OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and relationship with Ericsson which distributes CallXpress worldwide in 15 languages under the "OneBox(TM)" brand. With strong distribution partners including Verizon's Enterprise Solutions Group, Altura Communication Solutions and Norstan Communications, as well as 150 additional independent resellers worldwide, AVST is poised for rapid growth. "We choose investment opportunities by identifying businesses that can exploit major technology trends," said Steve Hooper, general partner and one of the founders of Ignition. "There is a large market opportunity for second generation enterprise communications solutions, and AVST, with its world-class CallXpress platform, is well positioned to take advantage of this growing demand." Cascadia Capital, a national investment bank specializing in the financing of companies in a number of market sectors including information technology and communications, assisted AVST in securing the financing. About Ignition Partners Ignition Partners, with headquarters in Bellevue, Wash., is a premier venture capital firm focused on early-stage computing, network infrastructure and telecommunications start-ups in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . Ignition brings together an unparalleled combination of domain focus, technical expertise and operational experience. Ignition's partners are proven business leaders with more than 160 years of combined experience, who have built some of the world's most successful businesses of the last two decades, including Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. , McCaw Cellular Communications, AT&T Wireless and Microsoft's enterprise business. For more information, please visit www.ignitionpartners.com. About Dolphin Equity Partners Dolphin Equity Partners L.P. (www.dolphinequity.com) specializes in investments in emerging media, communications and related information technology companies operating in the United States and abroad. Located in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Dolphin currently manages over $340 million in capital. About Cascadia Capital Cascadia Capital (www.cascadiacapital.com) offers corporate finance, mergers & acquisitions, strategic advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , and capital market services to companies across North America. Cascadia Capital serves emerging growth and middle market companies, both public and private. The firm focuses on the following sectors: Information Technology, Communications, Security & Defense, Healthcare, and Industrial & Consumer. About AVST Applied Voice & Speech Technologies Inc. (AVST) is a leading developer of enterprise communications solutions for businesses of all sizes. Through its world-class unified communications platform, CallXpress(R), and its innovative speech applications module, Seneca(TM), AVST offers the industry's most powerful suite of enterprise communications solutions. AVST's solutions enable direct access to an enterprise's communications infrastructure including voicemail, e-mail and fax messaging from any voice or data device via a touch-tone, GUI (Graphical User Interface) A graphics-based user interface that incorporates movable windows, icons and a mouse. The ability to resize application windows and change style and size of fonts are the significant advantages of a GUI vs. a character-based interface. or speech interface. Established in September 2003, AVST was formed from the combined businesses of Sound Advantage (established in 1997) and the CallXpress division (established in 1982) of Captaris Inc. With headquarters in Orange County, Calif., AVST maintains facilities in Bellevue and the United Kingdom and has remote sales offices across the United States. With over 34,000 systems installed worldwide, AVST's communications solutions are sold and supported internationally by an extensive network of resellers and OEM partners. For more information contact Denny Michael, VP of marketing at 949-699-2300 or access the company's Web site at www.avstgroup.com. |
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