Natural Convergence Secures $12M

Natural Convergence secures $12 million in series B financing; company welcomes Terry Matthews as strategic investor

August 5, 2004

1 Min Read

OTTAWA -- Natural Convergence Inc., a supplier of VoIP (Voice over IP) application software for service providers, today announced the successful completion of its Series B financing round worth CDN$12M. The investment was led by Boston-based VIMAC Ventures, LLC and includes follow-on investment from all existing investors including Jefferson Partners, BDC Venture Capital, Desjardins Venture Capital, Primaxis Technology Ventures, RBQ Inc., and Purple Angel. Telecommunications industry leader, Terry Matthews also joins as a strategic investor through investment firm Wesley Clover.

"During recent reference calls with Natural Convergence's customers, we encountered strong recurring themes," said Neal Hill, Consulting Partner, VIMAC Ventures, LLC. "The customers view VoIP as a technology that will have a major impact on their business and they place the roll out of VoIP services as a 'Top 3' business priority. The small and medium-sized business market is an important customer segment for each of these service providers and they view the company's product offering as ideally suited to their customer's needs."

"Globally, carriers have decided that now is the time for implementing hosted VoIP solutions," said Terry Matthews, Chairman of Mitel Networks Corporation. "Natural Convergence has the right product, at the right time. The company has a strong focus on the small business market which is poised for explosive growth."

Natural Convergence Inc.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like