Syndeo Corp., which sells Class 5 Voice-over-IP softswitch/call management server technology, has raised approximately $75 million in its third round of financing. Co-led by Comcast Interactive Capital and IUGO Ventures, the deal includes participation from Comcast, AOL Time Warner, Cox, Rogers, and Shaw through their respective venture arms. Other equity investors include Critical Mass Ventures, Intel Capital, Invemed Fund, L.P., Meritech Capital Partners, Presidio Venture Partners, Redpoint Ventures, Scientific-Atlanta, Sumitomo Corporation, Sun Microsystems, WK Technology Fund, and YAS Broadband Ventures.
The company has raised a total of approximately $98 million to date.
“We are thrilled with the level of participation from the cable operators and other strategic investors. These investors are affiliated with five of the eight largest remaining MSOs, passing approximately 70% of all homes in the US and Canada. We were one of the first softswitch companies to spot the opportunity for VoIP in the cable market, and our focus on CLASS 5, primary-line voice, and PacketCableTM compliance have been the critical factors in our success,” said Ted Griggs, Syndeo’s CEO, in a statement.
