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VoEx, Inc. Raises $12 Million of Preferred Equity Funding

July 12, 2006,
by volcanic

Grand Rapids, MI - VoEx, Inc., a leading global IP communications innovator, today announced that it has completed a $ 12 million Series B funding round led by Kennet Venture Partners LLC. Kennet, a leading international venture capital firm focused on the technology sector, was joined in this round by investors IVS A/S and EDF Ventures.

Javier Rojas, managing director of Kennet Venture Partners LLC in Foster City, CA, has joined the board of VoEx as a result of the investment. "VoEx represents a great example of a business using disruptive, innovative technology to achieve very rapid revenue growth," states Mr. Rojas. He adds, "because of compelling economics, innovative offerings and superior service levels, its most demanding Tier 1 customers are very satisfied and are rapidly increasing their commitments to VoEx. This is the best validation that its VOIP services have significant growth potential.” Furthermore, Beau Laskey, General Partner of EDF Ventures, and Robert Steiner, Senior Investment Director at IVS, will join the board.

“We look forward to further enabling our global communications services provider customers and our applications developer partners with the infrastructure needed to rapidly and efficiently expand their voice and messaging offerings to subscribers and users worldwide”, stated co-founder and CEO Haydar Haba.

"We are very pleased to have Kennet, IVS, and EDF joining us in our move to the forefront of the IP communications world”, said VoEX Chairman Frank M. Fawzi. “This round of investment is further proof of our ability to deliver high-quality, cost-effective VoIP services and applications”.

VoEx serves as a VoIP interconnect, enabling different VoIP networks (or “islands") to be interconnected. This minimizes TDM traffic for calls between VoIP networks, as well as dialout and dialin calls, while offering end users rich VoIP enabled web services. To deliver this, the company offers partners an integrated, on-demand suite of VoIP applications, management tools and network services that deliver VoIP-based peering, interworking, transcoding, trunking, billing, registry and enhanced telephony services for large, communications-intensive organizations. VoEx’s current customers include the largest global IP based voice communities as well as Tier 1 & 2 carriers, universities and enterprises. The Series B financing will be used to fuel continued global revenue growth, expansion of the VoEx carrier registry and the integrated delivery of advanced IP-based voice and messaging applications to its voice services and online community customers.


VoEx, Inc. is a provider of mission critical core network VoIP services to large communications services providers, universities, large enterprises and VOIP applications developers. VoEx's platform is a highly scalable, intelligent technology platform which provides a flexible and interoperable network architecture enabling VoIP origination and termination as well as cross connections across VOIP islands and between the VOIP and traditional telephony systems. VoEx supplies a complete turnkey VoIP solution that includes fully outsourced integration, Intelligent Discovery and LCR functionality, transport, protocol interworking, registry and billing functions across all of the VoEx product lines. By turning to VoEx, communications services providers gain immediate access to VoIP-based services and applications that 1) expand product sets, 2) accelerate their time-to-market, 3) reduce operating costs and 4) increase profitability of offerings.


Kennet Venture Partners is a leading transatlantic venture capital firm which invests in growth companies providing information technology products and business services that leverage information technology. Kennet provides expansion capital to firms that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. Kennet Venture Partners acts as an advisor to Kennet II LP, a Guernsey limited partnership.


IVS A/S is a Danish venture company founded in 1999 by a team of experienced professional entrepreneurs focused on supporting growth companies in the Scandinavian and European markets to realize their full potential. IVS invests in technology-enabled innovations within the IT and telecommunication industries, with an emphasis on software and infrastructure. Investments are made in businesses founded on unique and proven innovations, either in technology or in the implementation of new business models.


EDF is experienced in investing in all stages of growing companies and has a particular expertise in working with those that are early in their development. We seek equity positions and value-add relationships in companies where we can effectively partner with entrepreneurs to build companies that achieve their maximum potential for sustainable and profitable growth. Funds are typically invested in stages with the expectation that ultimately $4 to $6 million will be invested in each opportunity. EDF prefers to co-invest with other venture capital funds and is prepared to lead the formation of an investor syndicate. Early stage market driven companies in health care and information technology are particularly attractive to the Fund.