Voxware Closes Series 1 Financing Round
Company to expand its global marketing and sales operations to meet growing demand for cloud-based voice solution
HAMILTON, N.J., April 24, 2014-- Voxware, an innovative voice software provider, today announced completion of a Series 1 round of financing, which includes an option for additional future investment. Participating in this round are Cross Atlantic Capital Partners, James Alexandre, an existing Voxware investor, and W. A. Hitschler, an experienced venture investor. While the round has been fully subscribed, existing investors in the company will be permitted to participate on the same terms.
The market’s high demand for flexible cloud-based voice offerings has spurred rapid growth in Voxware’s SaaS bookings during the first half of FY 2014. The funding secured in this latest round will serve to expand global marketing and sales efforts to support this growing demand.
“This round of funding is a testament to the success that Voxware has experienced since introducing our cloud-based voice solution to the market nearly 24 months ago,” commented Keith Phillips, President and CEO, Voxware. “Today’s organizations want a solution that is easier to use, quicker to deploy, and costs less to maintain than an on premise solution. Our cloud-based voice solution meets these needs, and that’s why we’ve experienced such tremendous success across multiple industries globally.”
Companies of all sizes have been attracted to the Voxware Cloud Voice Management Suite (VMS), which offers all the robust functionality of an on premise voice solution. Cloud VMS enables organizations to enhance operational productivity, improve accuracy, and better serve their customers without the costly overhead of an on premise IT infrastructure. This is especially important given the changing supply chain landscape, which continues to see increases in online commerce and higher consumer expectations for seamless shopping experiences than ever before.
“I’m extremely pleased with the growth that Voxware has demonstrated and its proven leadership as a cloud voice provider,” said James Alexandre, Voxware Chairman and lead investor. “Given today’s supply chain challenges, the need for organizations to modernize their warehouses, and the increase in cloud deployments across all departments, I’m confident that Voxware will continue to see extraordinary results.”
Voxware helps organizations with teams who are on the move to more effectively receive, act on, and communicate information critical to their work. Our hands-free voice solutions enable employees to safely and accurately speed through tasks, thereby boosting operational productivity and improving customer experiences. What’s more, Voxware easily adapts to changes in technology and processes, enabling organizations to quickly address shifting demands without disruptions to the operation. Our innovative approach to voice communication has proven to help our customers increase profitability by cutting costs and enhancing brand loyalty. For more information, please visit www.voxware.com
Heather Miller, 215-644-6501
Sean Teaford, 215-644-6502
Venture Capital Database