Hamilton, NJ – July 12, 2012 – Voxware, a leading provider of voice solutions, today announced completion of a Series B round of financing which includes an option for additional future investment. This round of investment was made with follow-on commitments from existing investors and serves as a testament to Voxware and the growth opportunity available in the voice technology market. Financial terms of the agreement were not disclosed.
Voxware will use this latest round of financing to support the company’s aggressive growth, enhancing its global operations including expansion in Europe, Latin and South America, the Middle East, and Asia. Voxware will continue to significantly invest in research and development of its voice recognition software building on its heritage of innovation and market leadership. This includes ongoing advancement of its cloud-based software solution, as well as continued development of its platform for voice-centric multi-modal applications.
“Voxware has just closed a spectacular quarter, with revenue up 37 percent over the previous quarter,” commented Keith Phillips, President and CEO, Voxware. “This funding validates our momentum and growth potential, and will enable us to put the resources in place to continue our technology innovation and aggressively grow existing and new markets.”
This spring, Voxware has welcomed new customers including Houston Food Bank, Intertape Polymer Group, High Spec Lenses Ltd., and Per Una while existing customers, US Foods, Auto Zone, Performance Food Group, and Dunkin Donuts, significantly expanded their commitment to the Voxware solution with implementations at new sites. Also, Voxware's global partner network continued to add to revenue growth with new customer additions.
“Voxware’s success and growth are solid evidence that voice has truly come of age, and this latest investment will help the company bring the benefits of high quality voice software to more markets worldwide,” said Don Caldwell, Founder and CEO, Cross Atlantic Capital Partners. “Voxware’s proven technology, experienced team, and new executive leadership, position the company to capitalize on the trends shaping this industry.”
Voxware helps organizations with teams who are on the move to more effectively receive, act on, and communicate information critical to their work. Our hands-free voice solutions enable employees to safely and accurately speed through tasks, thereby boosting operational productivity and improving customer experiences. What’s more, Voxware easily adapts to changes in technology and processes, enabling organizations to quickly address shifting demands without disruptions to the operation. Our innovative approach to voice communication has proven to help our customers increase profitability by cutting costs and enhancing brand loyalty. For more information, please visit www.voxware.com.