XCast Labs announced a $2.7 million Series A round of funding led by Siemer and Associates. In a separate announcement, the company announced its basic VoIP products and services would be fully interoperable with Skype offerings by June 15.
"We are indeed positive about the rapid growth of XCast Labs, fueled by its leading intellectual property and experienced management team," said David Siemer, CEO of Siemer & Associates, in a statement. "In addition, XCast is well positioned to lead the change of how unified communications is utilized in numerous market segments."
XCast said the funding demonstrates its strong financial situation amidst economic turmoil.
"Unlike some other VoIP providers who are struggling to stay afloat, XCast Labs truly stands alone in regard to its financial stability, service quality, support, functionality and cost," said XCast Labs co-founder and CEO, Cliff Rees, in a statement.
Rees said the funding would help the company become profitable by the first quarter of 2010.
For more:
- see the funding press release here [1]
- see the Skype announcement here [2]
Related article
XCast Labs relaunches SIPTalk service, cuts rates [3]
Links:
[1] http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090603005229&newsLang=en
[2] http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090603005192&newsLang=en
[3] http://www.fiercevoip.com/story/xcast-labs-relaunches-siptalk-service-cuts-rates/2009-04-30