SpinVox Raises $100 Million in New Funding Round

SpinVox - which converts voicemails into text messages for operators - has secured over $100 million in a new funding round. The funds will be devoted to further building the global business of the UK-headquartered company that already operates on four continents and has signed deals with 12 carrier networks and intends to double that number during the next year.

"Closing this funding round is an exceptional achievement given the current state of the global financial markets," says Christina Domecq, CEO and Co Founder of SpinVox. "We are delighted to have this group of institutional investors join the company. It clearly underlines the confidence these high-calibre investors have in SpinVox and the management team."

The new round builds on previous investments made in the company by private equity investors such as Martin Hughes, Charles Dunstone of Carphone Warehouse and Peter Wood, the founder of Direct Line, eSure and Sheila's Wheels and institutional investors such as ABN Amro, Gartmore and Allen & Co.

"We built SpinVox to answer a real need in the marketplace and have now established a vast new market for voice-to-screen messaging which we continue to lead," continues Christina. "One of the many reasons why people are getting so excited about SpinVox is that it is one of the few genuinely innovative companies to have emerged in the telecommunications arena in recent years. SpinVox is transforming core messaging for carriers world-wide and delivering new, recurring revenues from existing user behaviour."

Goldman Sachs International acted as exclusive financial adviser to SpinVox on the transaction.

Posted to the site on 20th March 2008