Bizfon Closes Second Round of Financing With $8.6 Million Investment.SALEM, N.H.--(BUSINESS WIRE)--Oct. 13, 1998-- Funding To Be Used To Bring Small Business Communications Solutions To Market Bizfon, Inc. (pronounced Biz-fone), dedicated to providing comprehensive, easy-to-use, low cost communications solutions for small businesses, today announced it has received $8.6 million in second round financing. The latest investment, led by Advent International Advent International - a long-established and leading global private equity investor Background Advent was founded in 1984 by Peter Brooke and Clint Harris to focus on international private equity investing. , will be used to support field trials, product launch and market development activities. Founded in November 1996 as Personal Communications Technologies Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry , Bizfon solves a critical problem facing small business today--keeping in touch with customers, clients, vendors and associates. Bizfon's primary product is a communications switch that incorporates call management, voice mail, automated attendant In telephony, an automated attendant (also auto attendant or auto-attendant, or sometimes autoattendant or AA) system allows callers to be automatically transferred to a user's extension without the intervention of a receptionist. , fax-on-demand and Internet access See how to access the Internet. in a compact, low-cost, integrated package. With functionality previously found only in expensive, complex systems requiring third party integration and support, Bizfon's turnkey See turnkey system. solution provides everything the small business needs at a price it can afford. Bizfon is led by a seasoned executive management team including Co-Founder and Chief Executive Officer Peter Santeusanio, who has over 20 years of experience in the development and marketing of more than 40 high tech products, and Karl G. Wassman, Executive Vice President Finance and Operations who has over 20 years of financial and operating experience with early-stage high tech companies. The company raised its first round of financing, $2.4 million, from a select group of entrepreneurs, financial executives and individuals. "Any small business that has investigated purchasing a telephone system knows the frustration--these systems can easily cost tens of thousands of dollars, are very complex, and require ongoing support. Bizfon's mission is to empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems small businesses to be more available, informative and responsive to their customers than companies hundreds of times their size. The Bizfon solution raises the bar for small business communications," said Co-Founder 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. Peter Santeusanio. "While hundreds of millions of dollars are being invested to improve large scale telephone networks and the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the architecture, the need to provide small businesses with highly functional communications technology at an affordable price point has been virtually ignored," said Andy Fillat a managing director of Advent International. "Bizfon clearly has the product and expert management team to have a major impact in this untapped market." About Bizfon, Inc. Bizfon, Inc. develops, manufactures and markets communications solutions that empower small businesses to be available, informative and responsive to customers in ways that, until now, have not been possible. Bizfon's primary product is a communications switch that incorporates call management, voice mail, automated attendant, fax-on-demand and Internet access in a single, low-cost package. With functionality previously found only in expensive, complex systems requiring third party integration and support, Bizfon provides everything the small business needs at a price it can afford. The company is based in Salem, New Hampshire Salem is a town in Rockingham County, New Hampshire, United States. The population was 28,112 at the 2000 census. Salem is a marketing and distributing center, with several colleges, recreation attractions and a large shopping mall, the Mall at Rockingham Park. . For more information, contact Bizfon at 603-870-9400, or at http://www.bizfon.com. |
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