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08/16/2006
Digium
Secures First Round of Funding with Matrix Partners
Cash infusion
highlights Digium's leadership position in open source telephony
Digium
Inc.,
the original creator of Asterisk and pioneer of open source
telephony, recently announced it has closed its first round of
Venture Capital funding, receiving $13.8 million from Matrix
Partners a leading U.S. based venture capital firm. The funding will
help fuel the continued growth of Digium and Asterisk, especially in
launching new offerings for the enterprise communications market,
ranging from small to large businesses.
"We have maintained steady growth and have been consistently
profitable. We felt seeking outside funding was unnecessary, but
Matrix Partners' success and vision in the open source industry was
too compelling to ignore," said Mark Spencer, president of Digium
and creator of Asterisk. "Matrix's experience as a JBoss initial
investor, was a key differentiator. Early on, we realized Matrix's
involvement would help us grow more quickly."
The company's customers include a diverse group of small to medium
businesses, large enterprises, non-profits, branch and remote
offices, contact centers, carriers and service providers, that are
all leveraging the cost savings, flexibilities and feature-rich
capabilities an Asterisk-based telephony solution offers.
"We believe Digium has the potential to become one of our most
successful open source companies, as every company in the world
relies on telephony and the use of PBXs in order to run their
businesses," said David Skok, a general partner at Matrix Partners
and JBoss board member. "As companies continue to be attracted to
the cost savings and powerful new capabilities of Voice over IP, the
opportunity for Digium becomes massive. Digium is definitely in a
position to become the next big open source company, behind Red Hat,
JBoss and MySQL. Their current revenues, profitability, and growth
rates are extraordinary."
With the anticipated growth of IP-based communications and the
continued acceptance of open source, Digium has a unique opportunity
to become a dominant player in the telecommunications market.
Additionally, because of the built-in flexibility of Asterisk,
companies are able to build hybrid PBX solutions (a combination of
legacy and VoIP equipment) in migrating to a VoIP system.
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