February 9, 2009
VC Firms, Fidelity Ventures and Columbia Capital Invest $11 Million in Teliris
Telepresence solutions leader, Teliris announced that it had received $11 million in new funding from Fidelity Ventures and Columbia Capital to help telepresence innovation and drive market growth during a time when the demand for telepresence technologies is growing.� Teliris produces the worlds most widely deployed telepresence technologies, which realistically mimics the human dynamics of an in-person meeting.� The company has deployments in more than 30 countries and some of its deployments are in the largest companies of the Global 2000, including Merck, Xchanging, Lazard, and GlaxoSmithKline.�
This investment of new equity capital is an addition of the $40 million investment from Fidelity Ventures and Columbia Capital in 2007.�� Teliris will use this additional funding to capitalize on increased demand for its product.� This funding will also go to research and development of R&D projects.� According to Fidelity Ventures partner and member of Teliris� board of directors, Anne Mitchell, Teliris has become a leader in both innovation and deployment in the telepresence industry.� Since Fidelity�s initial investment, Teliris has experienced record sales and hired key executives along with expansion in more than 30 different countries.�
As far as the President of Telemanagement Resources International, Inc., S. Ann Earon, Teliris customers are seeing that they can achieve more growth in today�s difficult economy by having strategic investments in technology solutions and services that are cost effective and spur growth through increased collaboration.��� According to John Siegel, member of Teliris� board of directors and Columbia Capital, Teliris continues to be very well positioned to shape the market in the telepresence industry.� This latest investment is a testament to the consistently strong ability of Teliris to deliver powerful and measurable ROI results to each and every customer.
According to the CEO and cofounder of Teliris, Marc Trachtenberg, this new round of funding will help the company to continue to develop new and innovative telepresence technologies and lead the market in the telepresence technology industry.�
Fidelity Ventures backs early stage companies that are poised to bring their products to market and growth equity stage companies that are ready for rapid growth.� In early stage companies, Fidelity looks for companies that are ready to launch a product to the marketplace or scale an existing product or service for new markets.� For growth equity stage companies Fidelity looks for well established companies that might already have a successful product or service in the market but have an opportunity to make a sizable leap in the marketplace or expand into new markets.� For such companies, Fidelity can provide liquidity and the resources for rapid and sizable expansion.�
Founded in 1989, Columbia Capital is a premier vc firm that invests in the wireless, broadband, media, and enterprise information technology industries.� Since its founding, Columbia has taken a sector-focused approach to investing and has funded over 120 different companies.� Columbia invests for the long term and builds close partnerships with the entrepreneurs it invests in.� Columbia is a team oriented investor and its partners also sit on the board of directors of companies it invests in.