XConnect gets $10 million cash injection
by Alan Harten
September 19, 2009
XConnect, a leader in secure and neutral next generation ENUM-registry services and interconnection, announced that it has now raised about $10 million in Series B funding.
It was able to raise this amount with the aid of many different investors, which included Accel Partners of the UK, Crescent Point Group of Singapore, Venrock Associates of the US, and Grazia Equity of Germany.
XConnect plans to use the funding to finance the expansion of its Interconnect 2.0 portfolio, which is composed of multimedia and Carrier ENUM-registry hub services.
The Interconnect 2.0 portfolio has a full suite of services that are designed to meet growth of operators so that they can easily add on the delivery of the growing array of multimedia services such as video and voice high definition services.
At the same time, the portfolio should reduce the costs of transmission while also increasing the quality of service.
Chairman of XConnect, Ohad Finkelstein, said that the new investment into the venture by Tier 1 capital firms, even under the current economic conditions, shows that there is a lot of belief in the strength and promise of the Interconnect 2.0 strategy.
XConnect also announced a new deal that will connect the company with the GSM association so that it can ensure that the ENUM Registry Services will be interoperable with the GSM’s PathFinder number translation services.
With the new deal between the companies customers will be able to search for routing information for their calls and publish their numbers on the GSMA Carrier ENUM community.
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