XCast Labs raises $2.7 Million in Preferred Round A financing
By siliconindia   |    3 Comments
Printer Print Email Email
Los Angeles: Siemer and Associates, has invested in XCast Labs' as part of a $2.7 million Preferred Round A financing. The XCast Labs is a SaaS provider of digital voice and video solutions. "We are indeed positive about the rapid growth of XCast Labs, fueled by its intellectual property and management team. In addition, XCast is well positioned to lead the change of how unified communications is utilized in numerous market segments," said David Siemer, CEO, Siemer & Associates. Some of the other investors in this round included Frontera Capital members of the Pasadena Angels and company co-Founder and CEO, Cliff Rees. "This round of funding will enable us to achieve profitability by Q1 of 2010; as we developed and own all the core aspects of our technology, we have a much lower cost basis than any other provider." said Cliff Rees, XCast Labs co-founder and CEO. XCast Labs, its patented Digital Voice & Video platform delivers a wide variety of fully integrated, reliable services at lower costs. The company's engineering team has designed and developed the core technology in-house. It can be used for first-line replacement service for residential and small office customers, as well as for the IP-PBX and SIP Trunking services for small and medium businesses (SMBs). The Infonetics Research in its recent report on the VoIP and UC services reported that the expected CAGR of the SIP Trunking is to grow at 89 percent by 2013. XCast Labs works with several carriers, enterprises, cable operators and broadband service providers, including Avenue Broadband, MirrorTel, Sea Mobile, Greenfield Communications, RPM LLC, UseeIsee and Telescope.

siliconindia