LiteScape(TM) Raises $7.5 Million of Capital; SOFTBANK Capital and TeleSoft Partners Lead Investment in Emerging Leader in Enterprise VoIP Software Applications.SILICON VALLEY, Calif., Jan. 25 /PRNewswire/ -- LiteScape Technologies, Inc. (http://www.litescape.com/), a leading provider of VoIP enabled business applications software, announced today that the company has secured $7.5 million in its first institutional funding round. The Series "A" Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders.
Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. investment was led by SOFTBANK Capital SOFTBANK Capital is a venture capital group in the United States. See also
"We are thrilled to be associated with Softbank and TeleSoft, two leading global communications investors and we look forward to their partnership in building a worldwide business in converged applications for enterprise VoIP," said Farzad Naimi, 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. of LiteScape Technologies, Inc. "We've attracted one of the most experienced teams in enterprise software and telephony. This substantial funding will help us aggressively advance our sales plan and product development activities."
"SOFTBANK Capital's focus is investing in leading companies that will benefit from the widespread adoption of integrated, broadband networks. The rapid pace at which voice is being integrated into enterprise IP networks, creates an enormous market opportunity for multi-modal applications. With its strong management team and proven technology platform, LiteScape is positioned to be the leader in providing this new generation of enterprise applications," said Ronald D. Fisher, managing partner of SOFTBANK Capital. "LiteScape fits our strategy. We believe in the value of their technology and depth of management," stated Arjun Gupta, founder and chief executive of TeleSoft Partners. "LiteScape is at the forefront of developing business applications for VoIP phones and we look forward to working with them as they continue to scale." Mr. Fisher and Mr. Gupta will be joining LiteScape's Board of Directors.
LiteScape Technologies, Inc. develops communications software (communications, software) communications software - Application programs, operating system components, and probably firmware, forming part of a communication system. These different software components might be classified according to the functions within the Open Systems applications that automate business processes enabled by enterprise VoIP adoption. By integrating with an enterprise's IP telephony system and delivering converged communications (voice, data and/or video) to any connected device, LiteScape's applications improve employee productivity, business processes and customer service, resulting in significant return on investment for the enterprise. LiteScape's unique Multi-modal Application Platform(TM) (MAP) enables the rapid development and deployment of scalable business applications. LiteScape is certified with Cisco and Avaya and markets its products globally to Fortune 2000 customers through Cisco and Avaya and their resellers. For additional information, please visit http://www.litescape.com/.
About SOFTBANK Capital
SOFTBANK Capital is the U.S.-based venture capital group associated with SOFTBANK Corp. that focuses on private equity investments in technology-related companies. To date, SOFTBANK Capital has made numerous investments in e-commerce, software, financial services, communications, digital media and marketing companies, including Yahoo!, E*Trade, LRN LRN Linux.ru.net (website)
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LRN Lead Round Nose , UTStarcom, GeoCities, Perpetual Entertainment, Danger, Inc. and GSI Commerce. SOFTBANK Capital is currently investing through SOFTBANK Capital Technology Fund III L.P., which focuses on investing in U.S. technology companies taking advantage of the significant ongoing development and deployment of broadband and the resulting fundamental business and operational changes occurring across most industry sectors. There is more information available at: http://www.sbcap.com/.
About TeleSoft Partners
TeleSoft Partners is a venture capital firm focused on next generation communications and information technology companies. TeleSoft manages capital commitments of $625+ million and focuses on systems, software and components. Over the last decade, TeleSoft and its principals have funded and helped build 50+ portfolio companies resulting in 20+ acquisitions and IPOs to date with a combined current market equity valuation of $14+ billion post-bubble. Example portfolio companies include Bombay Cellular (acquired by Hutchison), Catamaran catamaran (kăt'əmərăn`), watercraft made up of two connected hulls or a single hull with two parallel keels. Originally used by the natives of Polynesia, the catamaran design was adopted by Western boat builders in the 19th cent. (acquired by Infineon), Cerent (acquired by Cisco), Internet Photonics (acquired by Ciena), iWitness (acquired by Zantaz), Kymata (acquired by Alcatel), Lara (acquired by Cypress), Promatory (acquired by Nortel), VxTel (acquired by Intel), as well as the following companies which have had initial public offerings: Omnipoint, OSI (1) (Open System Interconnection) An ISO standard for worldwide communications that defines a framework for implementing protocols in seven layers. Control is passed from one layer to the next, starting at the application layer in one station, proceeding to the , Provide Commerce, and SigmaTel. TeleSoft's Corporate Partners are AllTel and Bechtel in the US, Deutsche Telekom in Europe and Comverse in Israel. For more information, visit http://www.telesoftvc.com/ .
CONTACT: Sally Slevin Baggett, Director of Communications Director of Communications is a position in the private and public sectors. The Director of Communications is responsible for managing and directing an organization's internal and external communications. of LiteScape Technologies, +1-650-292-0353, or mobile, +1-203-247-7814, or firstname.lastname@example.org
Web site: http://www.sbcap.com/
Web site: http://www.telesoftvc.com/
Web site: http://www.litescape.com/