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SpinVox Secures over $100 Million in New Funding Round

TMCnews Featured Article


March 20, 2008

SpinVox Secures over $100 Million in New Funding Round

By Anil Sharma, TMCnet Contributor


SpinVox (News - Alert), the founder and one of the global leaders in Voice-to-Screen messaging has secured over $100 million in a new funding round.

 
The funds would be used for further building the global business of the UK-headquartered company.
 
SpinVox has already launched its services with Alltel, Cincinnati Bell, Rogers, Sasktel, Telstra (News - Alert), Telus, Vodafone Spain, Vodacom South Africa and LiveJournal and announced a deal with Skype. As a managed service provider, SpinVox can be rapidly deployed on any network or service at low cost and works with any handset.
 
SpinVox operates on four continents and has signed deals with 12 carrier networks and intends to double that number during the next year.
 
At the heart of SpinVox is its Voice Message Conversion System (VMCS), which works by combining state-of-the-art speech technologies with a live-learning language process. VMCS is being rolled-out across four continents in four languages - English, French, Spanish and German.
 
“Closing this funding round is an exceptional achievement given the current state of the global financial markets,” Christina Domecq (News - Alert), CEO and Co Founder of SpinVox said in a statement.
 
“We are delighted to have this group of institutional investors join the company. It clearly underlines the confidence these high-calibre investors have in SpinVox and the management team.”
 
“We built SpinVox to answer a real need in the marketplace and have now established a vast new market for voice-to-screen messaging which we continue to lead,” continues Christina.
 
“One of the many reasons why people are getting so excited about SpinVox is that it is one of the few genuinely innovative companies to have emerged in the telecommunications arena in recent years. SpinVox is transforming core messaging for carriers world-wide and delivering new, recurring revenues from existing user behaviour.”
 
Goldman Sachs International acted as exclusive financial adviser to SpinVox on the transaction.
 
SpinVox brought together the two most popular methods of communication – voice and text – and created a new category of messaging called Voice-to-Screen.
 
Its service is now making everyday communication simpler and more powerful, creating new recurring revenues for wireless, landline, cable and VOIP carriers as well as service providers and web partners.
 
Anil Sharma is a TMCnet Contributing Editor.
 
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