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April
11, 2000
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SOFTBANK
VENTURE CAPITAL INVESTS $2.7 MILLION
IN TELEVOKE, INC. |
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| Televoke-Hosted
Applications bundle Web, Telephony,
Wireless Services for Tracking and
Remote Management of Automotive,
Computer, Communications Devices,
Home Electronics. |
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Televoke,
Inc., an application service provider
that connects people to things important
to them, such as cars, home security
alarms and personal electronics,
announced today that it has received
over $2.9 million in first round
financing, led by SOFTBANK Venture
Capital. SOFTBANK (www.SBVC.com)
is a $600 million venture capital
fund focused primarily on early-stage
Internet companies. SOFTBANK contributed
$2.7 million of the $2.9 funding
that Televoke has received to date.
Televoke bundles web, telephony,
wireless, and billing services that
notify subscribers about occurrences
such as a ringing car or house alarm,
or a commercial website crash. In
addition, Televoke technology allows
subscribers to remotely control
devices such as home security, thermostats
and track the location of vehicles
or mobile devices such as personal
computers and organizers. The funding
will be used to complete the build
out of Televoke's network operations
center.
Televoke will provide these services
to automotive security, home security,
personal electronics and mobile
communications manufacturers who,
in turn, will offer them to consumers
on a subscription basis. Televoke
will launch their automotive security
tracking service this summer through
Clifford Electronics, the leading
U.S. automotive security provider.
"We believe Televoke's technology,
combined with the relevant backgrounds
of the management team, positions
the company well to capitalize on
a huge potential market. Their success
in signing a leading industry partner
like Clifford Electronics, Inc.
demonstrates both the market receptivity
to Televoke's unique service offering
and the management team's ability
to execute their strategy," said
Rex Golding, managing director,
SOFTBANK Venture Capital's current
technology fund.
"The financial backing from SOFTBANK
Venture Capital, combined with their
proven track record with successful
technology companies, will let Televoke
move quickly to capitalize on the
broad applicability of our technology
to multiple vertical markets ",
said Rick Bentley, Founder and CEO
of Televoke. "As an Application
Service Provider, our partners are
enthusiastic about the flexibility
to choose from the array of services
we can provide while still maintaining
their brand identity."
About
SBVC
With
offices in Mountain View, California
and Superior, Colorado, SBVC is
a $2.5 billion U.S.-based private
equity venture capital firm managed
by an unparalleled team of former
CEOs and entrepreneurs, technology
pioneers, senior executives from
major technology corporations, and
leaders from the investment banking
community. SBVC specializes primarily
in early-stage investments in the
areas of: communications systems,
software and services; infrastructure
software and services; professional
services; enterprise applications;
healthcare informatics; consumer
and small business applications;
components; and emerging technologies.
In affiliation with its largest
institutional investor, SOFTBANK
CORP., SBVC combines its technology
expertise and broad financial assets
with the industry's best entrepreneurs
to create a powerhouse portfolio
of over 175 of the world's leading
high technology companies. For more
information on SBVC's investment
team, technology vision and portfolio
companies, please visit www.sbvc.com.
About
Televoke, Inc.
Televoke "connects people to
things" by providing an automated
web and telephony service platform
that enables individuals and enterprises
to track and control valuable assets.
For the first time, businesses and
their customers can be proactively
notified via phone, pager or email
when a valuable fixed or mobile
asset is at risk. The Televoke service
platform can be customized and branded
for any partner and integrated with
virtually any enterprise system,
hardware device, GPS or other location
technology, wireless or wire line
network. Televoke was recently named
by CNET as a "Top Ten"
private wireless company to watch
in 2001. For more information on
Televoke, please
CLICK HERE. |
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