LignUp Closes on $9.8M

LignUp announced the close of a $9.8 million Series B funding round

June 26, 2006

2 Min Read

MOUNTAIN VIEW, Calif. -- LignUp Corporation, a leading provider of converged communications solutions, today announced the close of a $9.8 million Series B funding round. The round included new investments from Intel Capital, The Entrepreneurs’ Funds, Weber Capital Management, Draper Associates and Silicon Valley luminary Regis McKenna. The round also included follow-on investments from Series A investors Wasatch Venture Fund, an affiliate fund of Draper Fisher Jurvetson, the University of Utah’s University Venture Fund, and vSpring Capital.

"Industry attention is shifting from cheap Internet phone services to the integration of IP telephony within real business solutions," said Tim Draper, General Partner, Draper Associates. "LignUp's flexible development platform uniquely positions the company in this new market, providing the potential to write the next chapter in the history of telephony."

The LignUp Communications Platform, a communications application server platform, allows next generation telephony service providers, on-demand business software providers, traditional independent software vendors and online community portals to quickly build and deploy innovative telephony services that enhance customer interactions and drive revenue. This flexible, highly scalable communications server allows enterprises to integrate and deliver voice, data, and video over a single IP network.

“Organizations need dynamic development capabilities to realize the full potential of applications and services using service oriented architectures and IMS,” said Mark Lydon, investment manager for the communications infrastructure sector at Intel Capital. “LignUp’s market momentum demonstrates the company’s ability to address this need and accelerate the proliferation of next generation VoIP solutions.”

LignUp will use the B round funding to make further enhancements to the LignUp platform and continue to extend global operations supporting a growing base of over 140 customers in North America, Europe and Asia.

"These investments represent the latest industry validation of the LignUp vision,” said Hector Saldaña, Chairman and CEO, LignUp Corporation. “With voice becoming another application on the network, individuals and organizations can interact in new and dynamic ways unimaginable just a few years ago. We look forward to continuing to work with the industry’s leading innovators to accelerate the adoption of telephony solutions that truly enhance business performance.”

LignUp Corp.

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