AccessLine Announces $9 Million in Additional Financing26 April 2005
AccessLine Communications, a leading provider of hosted and managed voice services for the business market, today announced $9 million in equity financing from existing investors Mellon Ventures, Venrock Associates, Gabriel Venture Partners, Goldman Sachs and Alexander Hutton Venture Partners. AccessLine will use the additional funds to further expand its infrastructure in support of its rapidly growing customer base and to speed significant new Voice over IP (VoIP) service offerings to market.
"AccessLine is well positioned as a leading VoIP service provider specifically targeting business markets," said Mark Klebanoff, AccessLine's chief financial officer. "Our existing investors are very enthusiastic about AccessLine's prospects. We had strong support from them for this additional financing; the round was over-subscribed. The financing will continue to assist us in accelerating the growth of our business."
AccessLine recently announced its SmartVoice Service, a VoIP service for mid-sized businesses that combines local, long distance and toll-free phone service with advanced features such as find me/follow me phone numbers, on demand conference calling, and unified messaging. With SmartVoice Service, a business does not have to replace its existing analog or digital desktop phones, or their key system or PBX; they can continue to use their current equipment while immediately gaining the cost savings advantage of VoIP. SmartVoice is delivered as a hosted service over AccessLine's On-Demand(SM) Voice Services Network, allowing customers tremendous flexibility in implementation and customization employee by employee.
About AccessLine
AccessLine Communications provides hosted and managed voice services for large and small businesses nationwide. The company improves business communications options by offering a complete set of easy to implement, cost-effective managed voice services, which are available via either traditional phone or VoIP networks and through nationwide local access. With an established customer base of more than 100,000 business users, AccessLine provides unprecedented application quality, functionality and customer support. For more information, please visit www.accessline.com.
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Contact:
Sterling Communications, Inc.
Paul Forecki, 253-853-5030
pforecki@sterlingpr.com
or
Rachel Berry, 253-853-5030
rberry@sterlingpr.com
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Source: AccessLine Communications
Source: Business Wire
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