Company to Provide Online Communities with Carrier-Grade IP Communications Services; VoIP Luminary and Industry Veterans Spearhead Organization
Fall VON 2005 Conference and Expo, Boston, Mass. – September 19, 2005
Vivox announced $6 million in venture capital funding from Canaan Partners and GrandBanks Capital. The Company, which newly launched from Pulver.com, provides online communities with application specific embedded communications services. Vivox will use this capital infusion to support its sales and marketing organization, and drive development of its hosted platform. Over the past two years, Vivox has served behind-the-scenes as the industrial-strength platform for FreeWorld Dialup, a Pulver company that provides VoIP service to more than 500,000 subscribers.
Vivox's embedded communication services will alter the traditional landscape of communications by providing customers with new, innovative ways to drive greater interaction among their community members. The Company has initially deployed context-specific services targeted to the fast-growing online gaming and Internet dating communities. For example, online dating services will now be able to offer graduated contact services, e.g., allowing for live voice communication between members, without requiring them to expose personal details such as phone numbers. And for the 10+ million online gamers participating in massively multiplayer games, Vivox creates a more vivid game experience by adding user-customized voice services — such as guild or group-based voice chat — that are a fully-integrated and seamless aspect of the game environment.
The Company is chaired by Jeff Pulver, an acknowledged industry pioneer and one of driving forces behind the creation of what became Vonage. He believes that the next stage of evolution in the communications industry involves technologies that focus on contextual communications.
"Replacing traditional phone service has been done. Now, it's time to utilize the real power of IP communications by providing organizations with capabilities that they can customize for any application in any environment," said Jeff Pulver, founder and chairman of pulvermedia and Vivox chairman. "This is a good example of how the communications industry and computing industry are colliding."
"Canaan is excited about continuing our success growing industry leaders based on voice technologies, particularly VoIP," said James Furnivall, general partner, Canaan Partners. "In our review of companies, Vivox stood out as an immediate opportunity."
"The innovative backbone behind Vivox's IP communication services, combined with Jeff's expertise and thought-leadership proved to be an ideal opportunity for GrandBanks Capital to extend our portfolio into the VoIP space," said Ryan Moore, general partner, GrandBanks Capital. "We look forward to working together with Vivox to build an industry leader in the VoIP market."
"Vivox is proud to be driving the next generation of IP communications. This capital funding provides a strong endorsement of our market opportunity, management team and solution," said Robert Seaver, CEO of Vivox. "The ability to deliver customized IP services — whether voice, video or IM — for any interactive, online environment will enable our customers to not only create greater interaction among their customers, but also increase customer loyalty and revenue."
Vivox is an embedded communications service provider. We enable our customers to weave IP communications features into their applications and services. These context specific services, like IP-powered voice for online gaming and dating, drive greater interaction among our customers' users and increase loyalty and revenue opportunities. We offer a carrier-grade platform, deep customization tools and an unparalleled scope of services. Founded by industry veterans in 2003, Vivox customer delivers services to more than 500,000 users. For more information please visit www.vivox.com.
About Canaan Partners
Canaan Partners is an early-stage investor and creates next-generation companies in Internet infrastructure, communications, software and services, medical devices, biological sciences, pharmaceuticals and diagnostics. Founded in 1987, the firm has invested in more than 210 companies, completed 52 mergers and acquisitions, and taken 45 companies public. Canaan was an early investor in Dexcom (DXCM), DoubleClick (DCLK), CommerceOne (CMRC), Copper Mountain Networks (CMTN), Esperion (ESPR), Immunicon (IMMC), International Network Services (INSS), ONI Systems (ONIS), and Peninsula Pharmaceuticals, along with dozens of other market-leading companies. Canaan has offices in Menlo Park, California and Rowayton, Connecticut. For more information visit: www.canaan.com.
About GrandBanks Capital
GrandBanks Capital invests in early stage technology companies located primarily in the eastern part of the United States. With headquarters outside of Boston, the firm was established in partnership with SOFTBANK Corp in 2000 and has proven investment expertise in Internet infrastructure, software, security and storage applications, media and wireless technologies and services, and financial services. The GrandBanks Capital portfolio currently includes: Colubris Networks Inc., Coradiant Inc., CXO Systems, Inc., Ember Corporation, Enpocket Inc., GlassHouse Technologies, Inc., Incipient, Inc., OutStart, Inc., uLocate Communications, Inc., and Vivox. For more information, please visit www.grandbankscapital.com.