VOIP application developer VocalData closes $15.5M financing round; Core Capital invests $3M

December 4, 2003

1 Min Read

WASHINGTON -- Core Capital Partners, a $180 million private equity fund that invests in both early-stage and mid-sized technology companies, announced today that it has invested $3 million in VocalData Inc., an application developer of hosted IP telephony applications. Core Capital joins existing investors Austin Ventures, Trinity Ventures, Seed Capital Partners L.P., Hickory Ventures, and JP Morgan Partners in the financing round, which raised a total of $15.5 million that will be used to strengthen the sales momentum for VocalData's market leading voice-over-IP application server.

"With a team of proven executives and an innovative platform, VocalData is positioned well in this evolving marketplace," said Mark Levine, Core Capital's managing director. "VocalData's products address a need for enhanced telephony solutions that help carriers cut costs while creating new revenue opportunities. The platform combines high scalability and reliability with a market-leading feature set that allows service providers to deliver exciting new services to their customers," he added.

"This latest funding will help us stay focused on the business we've been building," said Michael Camp, VocalData's president and CEO. "The principals at Core Capital have a profound understanding of the VoIP marketplace and its importance in the investment arena and the communications field. We welcome Core Capital to our high quality investment syndicate." As demand for voice-over-IP grows, providers like VocalData are meeting a need for services including IP Centrex/Hosted business services, business trunking, enhanced residential service and a series of applications, such as desktop integration, mobility, productivity, business and customer service creation.

Core Capital Partners

VocalData Inc.

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