New Enterprise Associates and Anschutz Investment led the investment of more money into the company, injecting it with $25 million so that it can acquire Glenayre Messaging, a division of Glenayre Technologies in New York.
The company will now be called IP Unity Glenayre.
IP Unity previously raised at least $85 million in funding from NEA, Battery Ventures, Coral Capital Management, Kleiner Perkins, Partech International, Siemens Venture Capital, Telesoft Partners and others, most of whom participated in the latest investment.
Combined, the company will have 300 customers, including wireline telco, cable, wireless and FMC service providers, large enterprises and public agencies.
According to IP Unity’s statement:
The company will offer an unrivaled portfolio of applications including voicemail, unified messaging, conferencing, SMS, MMS, text to speech, speech recognition, IVR voice portal, color ringback tones, prepaid billing, video portal, video conferencing, videomail and video gaming all built using open standards based technologies such as VoiceXML. The company will continue to invest in its powerful solutions partners and other third-party integrated applications.
While the market for these sorts of service is robust, there are now plenty of players competing in the area, as we’ve already mentioned. Just yesterday, messaging company announced $42 million more in funding, and that follows new a big round of investment in Visto, and launches of new services by other competitors such as Samsung’s Blackjack.
According to reports, the combined company will have revenue of around $50 million or more.