VoIP peering provider XConnect Global Networks Ltd. said it has secured $12 million in a Series A venture capital funding round to accelerate product development and expand the company’s infrastructure.
The funding is led by Accel Partners, Venrock Associates, Grazia Equity and Bridge Capital Fund.
XConnect’s Global Alliance, DirectRoute, Enum Exchange and Private Federations services enable more efficient and direct routing of calls to the terminating service provider, the company said. Through a single connection to an XConnect federation, each of the company’s more than 400 service provider and carrier customers is able to peer with any other federation member.
"Our federated peering services enable service providers and carriers to deliver compelling new VoIP services and features on a cross-network basis while simultaneously reducing the capital and operational costs inherent in the PSTN model that it is replacing,” said Eli Katz, CEO of XConnect. “This investment … underscores the importance of peering and registry services in enabling the industry-wide migration from the legacy PSTN to the new generation of IP communications."
XConnect Global Networks Ltd. www.xconnect.net
