SinglePipe Communications Receives $4.0 Million Equity Investment.LEXINGTON, Ky. -- SinglePipe Communications ("SinglePipe"), a leading facilities-based wholesale communications provider of Voice over Internet Protocol (VoIP) services, announced today that it has received a $4.0 million equity investment. Louisville, Kentucky-based Chrysalis chrysalis (krĭs`əlĭs): see pupa. Ventures, a leading source of equity capital for growth companies in the Midwest and South, led the financing. The equity investment has been used to fund SinglePipe's recent acquisition of ALEC, Inc., a Lexington, Kentucky-based Competitive Local Exchange Carrier (CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) ), the development of state-of-the-art back office capabilities, and the development of the company's aggressive, strategic growth plan. The newly combined entity provides the network, back office infrastructure, and experienced management to be a leading wholesale VoIP provider in the United States. SinglePipe is based in Lexington, Kentucky. SinglePipe is a fully-integrated facilities-based wholesale communications provider to CLECs, internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISPs), cable companies, integrators and other technology service providers. These channel segments then use SinglePipe's turnkey VoIP service to sell to small and medium sized business (SMB (1) (Small to Medium-sized Business) Also called "SME" (small to medium-sized enterprise), it refers to companies that are larger than the small office/home office (SOHO), but not huge. ) customers and rural customers who typically lack the network, the back office or the expertise to deploy VoIP to their customer base. SinglePipe offers turnkey solutions for residential VoIP, hosted PBX (Private Branch eXchange) An inhouse telephone switching system that interconnects telephone extensions to each other as well as to the outside telephone network (PSTN). and SIP Trunking over its highly reliable network, providing substantial flexibility and price point advantages for service providers. The company's existing private network allows the company to provide wholesale local telephone service at a lower cost compared to traditional voice options, as well as to offer the rapid and cost-effective introduction of new features and services at no additional cost. Carlos "Doc" Carpenter, SinglePipe Chief Executive Officer, has over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. in the telecommunications industry and previously founded three telecommunication ventures in the southeast United States including NorthStar Technology, a PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. provider in Southeast Kentucky, KIH KIH Knö i Horn (gaming clan) KIH Keep It Hush (chat) KIH Kilometers In the Hour Online, a data services company that was the first ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. to network an entire state and Touchstone Communications, a CLEC that provided services to the ISP market throughout Kentucky. About SinglePipe Communications SinglePipe Communications is a leading facilities-based wholesale communications provider of Voice over Internet Protocol (VoIP) services to CLECs, ISPs, cable companies, integrators and other technology service providers. SinglePipe offers turnkey solutions for residential VoIP, hosted PBX and SIP Trunking over its highly reliable network providing substantial flexibility and price point advantages for service providers. For more information, please visit www.singlepipecom.com. About Chrysalis Ventures Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Midwest and South. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare services and technology, media and communications, and business services. Based in Louisville, Kentucky, Chrysalis has more than $250 million under management and has made investments in over 50 companies. For more information, please visit www.chrysalisventures.com. |
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