IVR

An Orlando-based provider of unlocked communications platforms including interactive voice response, or “IVR” technology, has announced a $9 million minority investment from two investors.

 

Officials with Voxeo (News - Alert) Corporation said they will use the investment funds from North Atlantic Capital and the Florida Growth Fund to take advantage of opportunities in unlocked communications and to both accelerate internal development and fuel new acquisitions.

 

“Over the last five years Voxeo has grown revenue 1,361 percent and grown to become the worldwide leader in unlocked communications,” said Jonathan Taylor, Voxeo’s CEO.

 

“This investment allows us to further accelerate our growth both organically and through acquisitions of complementary and competitive companies.”

 

The Florida Growth Fund was created in 2009 as a result of the passage of Florida State Bill 2310 – which supports investment in technology and growth-based businesses in the State of Florida. This latest announcement marks the first investment by Florida Growth Fund.

 

Leading the investment is North Atlantic Capital, which found and identified Voxeo as a high quality investment opportunity back in 2007. The investment firm also introduced Voxeo and the Florida Growth Fund and, as part of their latest investment in Voxeo, has added Mark Morrissette, managing director of North Atlantic Capital to Voxeo’s board of directors.

 

“We have tracked Voxeo’s progress closely for over three years, and are very pleased to now have the opportunity to partner with such a great company and management team. Our investment, together with the Florida Growth Fund and Hamilton Lane’s involvement, is a testament to the impressive performance and strong leadership at the company and to the opportunities that lie ahead in this dynamic market,” said Morrissette.

 

Just last month, Voxeo made headlines when it acquired Motorola’s OEM VoiceXML (News - Alert) browser business - making it possible to license out the browser to companies seeking to add VoiceXML capabilities into their products.

 

The agreement transferred both Motorola’s (News - Alert) VoiceXML browser and IP license rights to the company – providing full and exclusive rights to Motorola’s VoxGateway offering.