SinglePipe Communications, provider of voice over internet protocol (VoIP) services, says it brought in $5.1 million in second-round funding from Chrysalis Ventures, Kentucky Science and Technology Corp. and Meritus Ventures. The Louisville, Ky. company sells its goods directly to cable operators, about 50 in all.
The crowded VoIP space has seen a lot of consolidation lately. Companies like Jajah, Jaxtr and Mig33 are still standing, but rivals Yoomba and Jangl, among others, have been pushed out. SinglePipe, however, says it is not only safe in this climate but also unique in that it operates its own voice network -- it's even certified as a public utility.
The company has raised $11 million to date in debt and equity and says it expects to break into the black this year. It will use its new money to expand its network and customer base.