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04/11/2007

Telovations Announces $6.5 Million in Series A Funding

 

Telovations, Inc., a leading Tampa, Florida based provider of IP communications services to small and medium businesses, announced recently that it has secured $6.5 million in Series A venture capital funding led by Lovett Miller & Co. Joining Lovett Miller in the round were existing private investors Lane Five Ventures, Dominion Financial Group, Inc., Connemara Capital and other strategic individuals. The funding will be used to further build out Telovations' Cisco Powered Network, expand its geographic coverage into other key markets in the Southeast and add new innovative applications.

Telovations' Innovate hosted services provide a complete business communications solution. Included in the services are: Cisco IP telephones, more than 100 telephone system features, high-speed Internet service and more than 20 innovative applications, including find me/follow me, unified messaging and hosted call center. Delivered over a dedicated point-to-point T-1 connection on the Telovations Cisco Powered RealTime Network(SM), Telovations' services provide true unified communications.

“As a Florida-based company, it is strategically important for us to work with investors who understand the southeastern marketplace. We are very pleased to partner with Lovett Miller & Co., one of the Southeast's leading venture capital firms,” said Telovations President and CEO Rick Schonbrun. “Their extensive experience investing in technology companies, coupled with a background in the communications industry, will help us continue to grow our business and expand our network.”

“Telovations has put together a superb team delivering a focused communications solution for Florida-based businesses,” said Scott Miller of Lovett Miller & Co. “We are excited to partner with this fast-growing company on the forefront of voice technology.”

Based in Tampa, Florida, Telovations provides growing businesses in the Southeast with a hosted, managed, IP communications solution, including telephone equipment, telephone service and a high-speed T-1 connection to the Telovations private, secure and fully managed Cisco Powered RealTime Network(SM). Telovations' Innovate services also include over 20 innovative applications, professional support and systems management for one low monthly price.

For more information, please visit www.telovations.com