IntelePeer Inc. has completed its third round of financing. It raised $18 million in this round, which was led by new investor VantagePoint Venture Partners of San Bruno, Calif., with participation by existing investors Kennet Venture Partners, NorthCap Partners and EDF Ventures.
“IntelePeer is uniquely positioned with its game-changing strategy to address the need to reduce operational costs with an innovative hosted Voice 2.0 applications platform and carrier-class voice peering infrastructure,” said Bill Harding, managing director, VantagePoint Venture Partners and new member of the IntelePeer board of directors. “The company’s strong leadership team has achieved rapid and continuous revenue growth each quarter and has attained positive cash flow ahead of plan, a remarkable achievement in this financial environment.”
IntelePeer will use the money to expand its global presence and support business and technology development of its hosted, on-demand rich-media services and voice peering grid. The company provides software vendors, carriers and online businesses with what it refers to as its communications-as-a-service (CaaS) platform, to offer high-quality interactive voice, video, SMS, data and other rich-media services. Through APIs, Web Services, and brandable widgets and applets, IntelePeer removes the complexity of telecom and opens network functions to mainstream developers who are creating voice-Web “mashups” and communications-enabled business processes embedded into enterprise, Web casting, social networking, entertainment and e-commerce applications. Business professionals who use customer relationship management (CRM) software and common desktop applications such as calendaring and contact management also rely on Intelepeer for instant access to bridge-to-services, voice blast, video blast, text-to-speech, conferencing and other features.
