LiteScape(TM) Raises $7.5 Million of Capital; SOFTBANK Capital and TeleSoft Partners Lead Investment in Emerging Leader in Enterprise VoIP Software Applications.
"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 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 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, 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 (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, 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 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/
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|Date:||Jan 25, 2005|
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