Telesphere scores $15 million VC money
Posted May 27, 2009on:
Phoenix-based Telesphere received $15 million in another round of venture funding from its trio of investors. The hosted IP PBX company plans to use the cash for acquisitions and to expand its footprint beyond the 44 states it currently operates in.
In 2008, Telesphere received $10 million in funding from Telesphere’s investors are Rally Capital, Hawkeye Investments, Greenspun Corp; the former two are firms out of Washington state while the latter is based out of Nevada.
Telesphere says its revenues grew about 60 percent in 2008 and has about 120 employees; up from 35 at the start of 2008.
Providing services to the small to medium-sized business space, Telesphere provides various hosted IP PBX services and delivers service over a leased line. Options include SIP trunking and providing all the hardware and software for phone service.
Question of the day: If Telesphere is buying, then who is available and worth the price? There are a number of strong independent SMB VoIP providers – 8×8 comes up as a prime example – who have positive cash flow and no burning desire to be bought.
Source: Arizona Republic