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  • LiteScape Technologies Receives $14 Million in Series B Funding

    August 9th, 2007 No comments

    LiteScape Technologies, Inc., a leading developer of Unified Communications applications, recently announced that it had secured approximately $14 million in Series B funding. The funding round was led by new investor Vedanta Capital and also included strategic funding from T-Systems Venture Fund, managed by T-Venture, the corporate venture capital arm of Deutsche Telekom. LiteScapes existing investors SoftBank Capital, TeleSoft Partners, and Blumberg Capital also participated in the round. In addition, former AT&T executive and co-founder of Vedanta Capital, Alessandro Piol, has joined LiteScapes Board of Directors.

    We carefully examined the players in the emerging Unified Communications industry, and LiteScape was a clear front runner, says Alessandro Piol of Vedanta Capital. Their solutions have been deployed by numerous large companies already and their technology is ahead of industry giants who are just beginning to turn their attention to this rapidly growing market space.

    LiteScapes flagship product, OnCast, makes the future of unified communications a reality today, allowing organizations to harness the power of complete communications voice, conferencing, broadcasting, collaboration across the applications and communications devices they use on a daily basis. OnCast bridges the gap between corporate data, collaboration tools, desktop PCs, and IP phones to create a seamless communications experience. Tearing down communications barriers, OnCast effectively eliminates the divide between IP phones, PCs and mobile devices.

    After thorough due diligence of the Unified Communications market, we identified LiteScape as a leader in this space, said Sebastian Blum of T-Venture, the venture capital arm of Deutsche Telekom. We have confidence in the solutions, the management team, and the overall ability of the company to help transform the way organizations communicate and use unified communications applications to optimize business processes.

    OnCast has been deployed globally by multi-national organizations to drive productivity, reduce costs, optimize traditional business processes, and increase corporate security. OnCast presently integrates IP telephony systems with business applications from leading vendors including Cisco, WebEx, Asterisk, Avaya, IBM/Lotus, Microsoft, Polycom and Salesforce.com.

    With more organizations deploying IP telephony and demanding Unified Communications applications everyday, LiteScape is well positioned to capitalize on the growth of this market by providing a powerful software solution that dramatically helps companies increase productivity, said Farzad Naimi, Chairman and CEO of LiteScape Technologies. We are pleased by the new support of Vedanta Capital and T-Systems Venture Fund and the continued confidence of our existing investors. LiteScapes solutions are already helping many organizations around the world optimize their business processes and streamline communications. With this new funding, we will extend our reach to even more customers, continue to grow our solutions portfolio, and build the necessary corporate infrastructure to support a global business.

    LiteScape Technologies is a leading software developer of Unified Communications applications. By securely integrating an organization’s business applications with its IP communications infrastructure, LiteScape solutions increase productivity and optimize business processes. LiteScape allows users to access and utilize pertinent corporate information in real time on any IP device, including desktop computers, IP telephones and mobile devices. Founded in 2004, the company is privately held and based in Redwood Shores, CA.

    For more information, please visit www.litescape.com

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