News & Events
SyncVoice Communications Raises First Venture Financing after 4 Successful Years in the Market
The Leader in Hybrid Communications Management Wins Venture Capital Support for Accelerating Growth
Globalcomm(Chicago) and Costa Mesa, CA - June 6, 2006 - SyncVoice Communications, a leading provider of unified management solutions for hybrid communications, today announced the company has secured $4 million in its Series A financing from Clearstone Venture Partners and Hummer Winblad Venture Partners. The funding will be used to expand SyncVoice Communications' established sales, marketing and engineering efforts, to accelerate distribution and extend its portfolio of products that elevate hybrid communications to IT management standards.
According to Infonetics Research, sales of voice systems totaled $8.1 billion in 2005 and will grow to $11.6 billion by 2009. Voice over IP (VoIP) is a primary driver for this growth and has accelerated the need to integrate voice communications into standard IT management practices.
"VoIP has forced IT departments to decide how they want to handle both their legacy and converged networks," said SyncVoice Communications CEO Kerry Shih. "We deliver a platform that manages communication performance, security and cost controls to a common standard regardless of vendor, network topology or level of convergence."
"After gaining significant customer traction and validating demand over the past four years, we will be using this capital to accelerate our growth," added Shih.
With its flagship product, VXTracker, SyncVoice Communications is the first company to offer management of hybrid communications with the same level of control, holistic visibility and correlated analytics across TDM and VoIP networks. VXTracker reduces the operational risk and expense of hybrid communications networks and allows IT organizations to assimilate it under their umbrella of responsibilities. This enables them to manage hybrid communications with practices, tools and controls similar to those already routine for pure data networks.
"SyncVoice Communications is going to materially affect the way hybrid communications networks are managed," said Doug Hickey, managing director of Hummer Winblad. "We are impressed with SyncVoice Communications' value proposition, customer roster and ability to solve multiple management problems for enterprise customers."
Over 250 customers use SyncVoice Communications' products to manage the performance, security and cost controls of their enterprise communications both in the United States and internationally.
"The VoIP market place is growing fast and systems management is recognized as a top issue in reducing total cost of ownership," said William Quigley, managing director of Clearstone Venture Partners. "IT managers have a lot of questions regarding how to manage hybrid voice systems, and SyncVoice Communications answers them with technology and expertise that is rare in this space."
Doug Hickey and William Quigley recently took seats on SyncVoice Communications' board of directors.
About SyncVoice Communications
SyncVoice Communications is a leader in unified management solutions for hybrid communications. Voice over IP has accelerated the hybridization of customer networks in terms of convergence, number of vendors and disparate networking technologies leaving voice as one of the largest, unmanaged pieces of IT infrastructure. SyncVoice Communications is the first company to offer management of hybrid communications as a platform that delivers the same level of control, holistic visibility and correlated analytics regardless of the evolutionary state of the network. SyncVoice Communications' flagship product, VXTracker, is used by over 250 customers and reduces the risk and total cost of ownership of today's evolving communications. SyncVoice Communications is headquartered in Costa Mesa, California USA and has sales offices throughout North America. For more information, visit www.syncvoice.com/.