MOBIVOX Rings up $11 Million in Funding from Top-Tier Global Investors.Company That Makes Free International Calling Possible from Any Phone Attracts Investment from Four Countries MONTREAL -- MOBIVOX, which makes it possible to connect with family and friends around the world for free from any phone, today announced it has received $11 million in Series A venture capital funding from top-tier investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , China, Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. and Canada. MOBIVOX will use the infusion of capital to expand its global reach. Led by IDG IDG International Data Group IDG Integrated Drive Generator IDG Installation Design Guide IDG Internet Discussion Group IDG Inset Dielectric Guide IDG International Dangerous Goods (mail, shipping) Ventures Boston, the Series A round included participation from IDG Ventures China and IDG Ventures Vietnam, which are part of the IDG Ventures global network of funds. In addition, two previous investors, Brightspark Ventures of Toronto and Skypoint Capital Corporation of Ottawa, participated in the round. As part of the funding, David Aronoff, general partner of IDG Ventures Boston, will join the company's Board of Directors. "IDG Ventures Boston understands the power of connecting people seamlessly on a global scale," said MOBIVOX 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. , Stephane Marceau. "We envision a company that brings you closer to the services and people you care about by extending the reach and power of 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 to any phone. Our service is designed for novice and tech-savvy consumers alike and does not require the purchase of a new device or installation of any software. We now have top investors from around the world, with deep insights and relationships into the consumer Internet space to help us achieve our vision." MOBIVOX calls are free from anywhere in the world to over 40 countries and members save up to 98% on all other international calls. After registering at www.mobivox.com, you simply dial a local access number to connect with friends and family a world away. When you call, you just say the name of who you want to talk to. No need for a calling card, PIN numbers, computers, special software or complex downloads. It works on any phone and membership is free. "In the three months since its initial launch, MOBIVOX has achieved incredible traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. in the market," said David Aronoff of IDG Ventures Boston. "MOBIVOX represents freedom to millions of consumers who work hard to maintain long distance relationships. We look forward to working with the company as they revolutionize rev·o·lu·tion·ize tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es 1. To bring about a radical change in: Television has revolutionized news coverage. 2. the international calling market." IDG Ventures is a global network of independently managed venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: with $2+ billion under management. The IDG Ventures network is comprised of five independent partnerships managing funds in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , China, Vietnam and India. MOBIVOX represents the first investment where multiple funds from within the IDG Ventures network have co-invested in a company. To learn more visit: www.mobivox.com About MOBIVOX MOBIVOX makes it possible to call family and friends around the world for free, from ANY phone. Just call a local MOBIVOX number and say who you'd like to speak with. No calling cards and long numbers to remember. No need for a computer, special software or complex downloads. With global availability, MOBIVOX means more freedom to share experiences with those you care about no matter where you or they may be. About IDG Ventures Boston IDG Ventures Boston is an independent partnership that enables entrepreneurs to grow innovative, global companies. With $280 million under management, the firm is focused on investing in early stage technology and life sciences companies and is affiliated with the IDG Ventures network of funds, a global network of independently managed funds spanning Asia and North America. www.idgvb.com About IDG Venture Investment China IDG Venture Investment China is a premier venture firm in China focused on helping early to growth-stage companies become significant players in the IT, consumer, media and life sciences industries. The firm has demonstrated success with over 30 IPO's and successful M&A transactions and a portfolio that includes Baidu, CTrip, Sohu, Tencents, HomeInns, and KingDee. With a 14-year history of investing in China and $1.3B under management, IDG Venture Investment China is proud to have won the trust of entrepreneurs, investors, business communities and government organizations. www.idgvc.com About IDG Ventures Vietnam IDG Ventures Vietnam is the first technology venture capital fund in Vietnam. With $100M under management, the fund invests in market-leading companies in the technology, media and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. sectors in Vietnam as well as select parts of Southeast Asia. As part of the network of IDG Ventures funds worldwide, IDGVV has been at the forefront in the development of the venture capital industry in the region as well as promoting technology entrepreneurship en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. . www.idgvv.com About Brightspark Brightspark Ventures is a leading early-stage venture fund. Brightspark works closely with entrepreneurs to develop and build market-leading software companies. With offices in Toronto and Montreal, Brightspark is backed by leading institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. who share its approach to early-stage software investing. www.brightspark.com About Skypoint Skypoint Capital[R] (www.skypointcorp.com) forms and manages venture capital funds that stimulate and leverage the ever-changing telecommunications and information technology sector. We begin by investing time with the entrepreneur entrepreneur (än'trəprənûr`) [Fr.,=one who undertakes], person who assumes the organization, management, and risks of a business enterprise. long before we commit capital. Once we invest, we bring our vast operating experience and passion for growing businesses to our portfolio companies. The members of the Skypoint Capital team have participated in more than 80 technology start-ups in the Ottawa and Montreal regions. |
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