IDG Ventures Managing Director Phil Sanderson Joins Vivox Board
Natick, MA – February 2, 2010
Vivox, Inc. (www.vivox.com), the market leader in voice services for online games, virtual worlds and the social web, today announced that it has secured $6.8 million from a third round of equity financing led by IDG Ventures with follow-on investment from Benchmark Capital, Canaan Partners and GrandBanks Capital.
"Vivox has proven the community building value and revenue potential of voice in online activities, enabling millions of people to connect with one another - whether in a multiplayer game, in a virtual world or on Facebook. With its strong team, pioneering technology and aggressive market stance, Vivox is a perfect addition to the IDG Ventures portfolio," said Phil Sanderson, managing director of IDG Ventures San Francisco and newly appointed Vivox board member. "Through the IDG group of companies, we have an unparalleled combination of insight and analysis into the most important trends in the digital age. Voice is the key ingredient missing from a huge range of online experiences, and Vivox has proven itself able to provide mission-critical voice and exceptional service to leading companies around the world. I look forward to working closely with the team at Vivox to seize this tremendous opportunity."
Vivox provides the only managed voice service available today that connects people and communities across multiple platforms including PC, game consoles and Web-based social networks such as Facebook. The Vivox Network provides an unmatched set of features that improve the user experience, and offers revenue opportunities for clients through voice-based virtual goods. Vivox customers and partners include leaders in online games and virtual worlds such as CCP Games, Gaia Online, Hi-Rez Studios, IMVU, Linden Lab, NCsoft, Nexon, Realtime Worlds, Sony Online Entertainment, Wizards of the Coast, and many others.
"By delivering billions of minutes of voice per month to millions of users, we have seen first-hand how voice improves online communities," said Rob Seaver, Founder & CEO of Vivox. "The web is increasingly social, and talking to each other is how we, as humans, interact. Voice is an essential part of the explosive growth of the social web. This fundamental trend translates into an immense opportunity for Vivox. With the support of IDG Ventures and our other investors, we will continue to innovate for our customers and make voice part of more and more shared experiences online."
About Vivox, Inc.
Vivox is the global leader in HD voice services for online games, virtual worlds and the social web. Supporting 20 million users in more than 180 countries, and over 2 billion minutes of voice chat per month, the Vivox Network is the world's largest cross-platform voice provider. For more information on Vivox and the power of voice, visit www.vivox.com.
About IDG Ventures
IDG Ventures SF is an early-stage venture capital firm investing in New Media and IT companies in the US. The fund is part of IDG Ventures, a global network of technology venture funds with over $2 billion under management and 10 offices across Asia and North America. The fund works closely with International Data Group (IDG), the world's largest IT media company. By combining the IDG platform - an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources - with years of hands-on experience in early-stage company building, IDG Ventures helps its portfolio companies understand their markets better and penetrate them faster than their competition. Leading technology companies that IDG has invested in include Netscape, Excite, Infoseek, Epiphany, F5 Networks, BabyCenter, Service Metrics, and Spinner.com in North America and Vinagames, Ctrip and Baidu in Asia.
About Benchmark Capital
Benchmark Capital, a leading international venture capital firm, was founded in 1995 to help talented entrepreneurs with original ideas build successful technology companies. Benchmark's general partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes high-profile start-ups like Infinera, MySQL, OpenTable, Second Life, Tellme, Yelp, and Zillow, and franchise companies such as eBay, Juniper Networks and Red Hat. The firm manages more than USD 2.4 billion in committed venture capital. For more information on Benchmark Capital, visit its website at www.benchmark.com.
About Canaan Partners
Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies. Founded in 1987, the firm has raised eight funds and completed more than 77 acquisitions and 52 IPOs. With $3 billion under management and a worldwide footprint, the firm's technology team is committed to catalyzing the growth of innovative companies in the digital media, communications & mobility, enterprise and clean tech sectors. Among its successes are DoubleClick, the leading online advertising solution; Match.com, the most popular online dating site in the world; CommerceOne, the company that pioneered B2B ecommerce; SuccessFactors, the global leader in on-demand performance and talent management solutions; WebLoyalty, a leading provider of online marketing and rewards services; and VOIP equipment supplier Acme Packet, which was one of the top ten performing tech IPOs of 2006. Other Canaan technology investments include Active Networks, Associated Content, BharatMatrimony, Blurb, iYogi, Lending Club, N-trig, ON24, Prime Sense, Tremor Media and Zoosk. Canaan has offices in California, Connecticut, India and Israel. For more information visit www.canaan.com.
About GrandBanks Capital
GrandBanks Capital invests in early stage 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 and has proven investment expertise in information technology, software, Internet and communications, media and financial services, and wireless technologies. The GrandBanks Capital portfolio currently includes; Colubris Networks, Coradiant, Ember Corporation, Enpocket, First Coverage, GlassHouse Technologies, Incipient, OutStart, uLocate Communications, and Vivox. For more information on GrandBanks Capital, visit: www.grandbankscapital.com.