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News and Information Article
Investors Have Option to Invest an Additional $3 Million in Aptela
MCLEAN, Va., Jan. 12 // -- Aptela, Inc., a leading provider of
Internet-based communications technology that replaces traditional phone
systems and service, announced today that it has secured $5 million in Series
A financing. JMI Equity, a private equity firm exclusively focused on
investments in the software and business services industries, led the
investment. JMI and the other Series A investors have an option to invest up
to an additional $3 million in Aptela.
Proceeds from the financing will help expand Aptelas sales and marketing
efforts, enhance the Companys product development initiatives and provide
general working capital. Brad Woloson, a General Partner at JMI, will join
Aptelas Board of Directors, of which Al Peyser, former Chief Executive
Officer of Cable and Wireless, is the Chairman.
"Companies have come to discover that the real value of Voice over
Internet Protocol (VoIP) is in hosted voice applications like Aptela," said
Howard Freidman, President and Chief Executive Officer of Aptela. "Theyve
come to this conclusion because the value proposition is compelling and
because traditional phone systems were never designed for todays mobile,
always-on world. Aptela is a technology leader and a key player in the VoIP
market, and JMIs experience and expertise in software and technology-based
services will allow us to accelerate our growth and pace of innovation."
"Aptela has distinguished itself in the competitive VoIP sector since its
founding in 2001 by offering flexible and innovative technologies to help
businesses communicate more efficiently and cost effectively," said Mr.
Woloson. "Howard and his team have done a great job of building a company
with a strong customer base and leading-edge VoIP technology offering that is
well positioned for further growth and expansion.
"Aptela enables its customers to recognize significant cost savings by
eliminating the traditional phone service and replacing it with a total
communication solution in one package at a flat monthly rate that even the
smallest business can afford. Aptelas technology delivers all of the
features of traditional phone systems at a fraction of the cost and adds new
cutting-edge capabilities for more efficient, intelligent and affordable
business communications. Delivered on-demand via monthly subscription, the
Aptela service complements and enhances traditional "land-line" phone service
and delivers business-grade VoIP with "plug and play" simplicity. Aptela can
also work with VoIP phone service from other providers.
While most of Aptelas 1,000 + business customers have less than 200
employees, the service appeals to any firm that requires mobility, total
availability for its employees and advanced call handling. As such, Aptela
also supports many larger companies.
About Aptela, Inc.
Aptela is a leading provider of Internet-based communications technology
that replaces traditional phone systems and service. Delivered as a hosted
service, Aptela delivers capabilities designed for todays mobile, always-on
world with greater reliability than traditional alternatives, no maintenance
hassles and unmatched flexibility and ease of use. The firm has a unique
blend of cutting-edge technology and proven reliability, having pioneered pure
Web-based hosted communications with its initial product release in 2001.
Aptela sells its own branded Aptela service, provides white label solutions
for partners and works closely with a select group of telecom- and IT-focused
resellers. More information about Aptela and its services can be found at
http://www.aptela.com.
About JMI Equity
JMI Equity, based in Baltimore and San Diego, is a private equity firm
exclusively focused on investments in the software and business services
industries. Founded in 1992, JMI has invested in over 60 companies throughout
North America and has approximately $700 million of capital under management.
JMI invests in growing businesses. The firms focus is on providing the first
institutional capital to self-funded companies. JMI also invests in select
recapitalization and management buyout financings. Representative investments
include Blackbaud, Inc., DoubleClick, Inc., Jackson Hewitt, Inc., NEON
Systems, Inc., Transaction Systems Architects, Inc. and Unica Corporation.
For more information on JMI Equity, visit http://www.jmiequity.com.
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