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Telesphere Lands Millions More in Investor Financing

October 27, 2010 - News

Hosted IP communications provider Telesphere has closed another round of financing, for a total of more than $50 million over the past five years.

The Scottsdale, Ariz.-based company didn’t say how much new funding it received but, in September, it said investors had dished out $35 million over the past two years. That means Telesphere landed around $15 million more this month.

“This investment is our most significant yet, given we now have the funding to support our growth through cash flow positive status," said Clark Peterson, CEO of Telesphere. “With this additional capital, we will continue to invest in the company to ensure we are providing award-winning customer service and leading the dramatic shift of businesses moving their voice and data services to the cloud."

Peterson said investors’ backing “goes to show there is great optimism about the multibillion-dollar market opportunity for hosted communications in the cloud and the future of Telesphere."

Telesphere’s investors include Rally Capital and Hawkey Investments.

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