Lync Migration Featured Article
June 17, 2013
Investments in IntelePeer Lead to Company Expansion
By Ed Silverstein
IntelePeer (News - Alert) has raised money from current investors, which will lead to the purchase of $15 million in preferred stock by the end of the month. Investors included in the financing are: VantagePoint Capital Partners, Kennet Partners, EDF Ventures and Northcap Partners.
With these new funds, the total equity investment in IntelePeer will be more than $50 million, the company said. And the new money will be used to acquire new customers, develop new products and enter markets.
The company also points out that volumes were over 30 billion voice and video calls, provided by IntelePeer’s CloudWorx cloud communications platform during 2012 – with more demand for unified communications (UC) solutions from both service providers and enterprise customers. The UC platform includes the Lync Server, which is a popular unified communications platform for the enterprise. Microsoft (News - Alert) Lync is also an enterprise-ready platform.
“Growth in the enterprise space was particularly strong as the number of business customers increased by more than 80 percent in 2012, fueled by the transition from conventional communications technologies to UC and IP utilizing IntelePeer services,” IntelePeer said in a statement.
“2012 showed an impressive rate of customer acquisition, driven by the shift of communications technologies to IP and the Cloud,” Frank Fawzi, chairman and CEO of IntelePeer, added. “Enterprises are accelerating their transition to UC and SIP trunking to support advanced collaboration features that are only available from an all-IP, Cloud-based platform. We are honored to partner with leading investors who share our vision to capitalize on this growth opportunity.”
IntelePeer is a provider of on-demand, cloud-based communications services for enterprises and service providers. Its IntelePeer CloudWorx platform combines a SuperRegistry database, a Media Peering Grid service, and the AppWorx development solution.
Recently, IntelePeer partnered with Vidtel (News - Alert) on a joint solution for cloud-based video conferencing. It provides benefits for diverse business users, according to a report from TMCnet.
Edited by Jamie Epstein