Natural Convergence Announces US$10M in Series 'C' Funding.Company's VoIP Software is in Use by More Than 10,000 Small Business Employees in Five Countries OTTAWA -- Natural Convergence Inc., a supplier of VoIP (Voice over IP) application software for service providers, today announces it has secured US$10M in series aC' financing. The five year old company also announces that, through its service provider customers, it has 10,000 active users of VoIP lines in small businesses. Service providers have deployed the silhouette software to businesses located throughout Canada, 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. , the United Kingdom, the Netherlands, and the Caribbean. This round of funding, in which all existing investors participated, was led by Wesley Clover clover, any plant of the genus Trifolium, leguminous hay and forage plants of the family Leguminosae (pulse family). Most of the species are native to north temperate or subtropical regions, and all the American cultivated forms have been introduced from and BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller Venture Capital, and brings the total investment in Natural Convergence to US$29M. Wesley Clover is the venture capital company founded and chaired by telecommunications industry leader Terry Matthews Sir Terence Hedley Matthews OBE, P.Eng., F.I.E.E. F R Eng (born 1943 in Newbridge, Wales) is a serial high tech entrepreneur, and Wales' first billionaire. Matthews has founded several dozen companies in the United Kingdom and Canada in the high tech communications field. . Other investors include VIMAC VIMAC Venture Investment Management Company LLC (Boston, MA) VIMAC Visually Impaired Media Access Consultants and Desjardins Venture Capital Group, as well as early investors Jefferson Partners, Primaxis Technology Ventures Inc., and Purple Angel. "Our product was designed from day one to provide a simple, compelling offer ideally suited for mass market distribution. The small business market has been underserved and difficult to reach, yet our customers are reporting 25-50% growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in sales of silhouette, quarter over quarter," said David Cork David Cork (born October 28, 1962 in Doncaster) was a former professional footballer who played for many English sides in the 1980s. Having played for Yorkshire Schoolboys, Cork was signed by Arsenal in 1978 on schoolboy forms, turning professional in 1980. , Chief Executive Officer, Natural Convergence. "The top priority use of these funds will be to assist our customers to continue to achieve these exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. rates through aggressive channel development and related marketing programs." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Eastern Management Group, there is an installed base of 32 million key systems in use by small businesses. These key systems are about 12 years old and ripe for replacement. Natural Convergence's silhouette gives service providers the means to aggressively replace those key systems with a hosted solution. This affords service providers the opportunity to expand their business beyond simply selling pipeline to offering enhanced services to this market. "The business model of Natural Convergence's hosted VoIP key system replacement solution works extremely well in catering to the needs of the small business market," stated Ron Warburton, Director, Venture Capital for the Information Technology group at BDC Venture Capital. "As a result, Natural Convergence provides cable companies and service providers with a new and growing revenue stream." About Natural Convergence Natural Convergence supplies hosted VoIP software that enables service providers to sell dramatically improved services to the huge yet untapped small business market. Its silhouette application replaces traditional key systems, combining familiar functionality with powerful cost and performance advantages. Its go-to-market channel strategy is optimized to the buying habits of small businesses - from value-added resellers, through service providers and original equipment manufacturers. Natural Convergence is headquartered in Ottawa, Canada. For more details, visit naturalconvergence.com or call +1 613 280 2000. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion