LignUp Closes $5.9M Funding Round

VOIP platform developer LignUp raises $5.9M in its first round of financing

April 12, 2005

1 Min Read

MOUNTAIN VIEW, Calif. -- LignUp Corporation, a provider of Web services-based converged communications solutions, today announced the successful close of its Series A financing round. The $5.9 million round was co-led by Wasatch Venture Fund, an affiliate fund of Draper Fisher Jurvetson, and vSpring Capital, a leading early stage venture fund. Other investors included the University of Utah’s University Venture Fund and the iOCS Venture Fund. The investment will support LignUp’s expansion of operations and market penetration in the US, Europe and Asia-Pacific.

LignUp Corporation delivers a powerful Web services-based voice-over-IP (VoIP) communications platform deployed with IP-PBX, IP-Centrex, Voice Mail, Unified Messaging, and IVR Web applications. The proven LignUp Communications Platform, which is 100-percent software and based on the SIP industry standard, enables service providers to compete with a steady stream of innovative services and enables enterprises to compete with higher productivity business processes via converged voice-data solutions.

“LignUp makes VoIP application development as easy as Web development; empowering any Web developer out there to innovate with powerful new voice and presence driven apps,” said Nick Efstratis, partner at Wasatch Venture Fund. “The LignUp platform is open and it works, driving LignUp’s own suite of telephony apps as well as apps created by other developers. LignUp is the catalyst that is finally going to make the promise of VoIP applications a reality.”

LignUp Corp.

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