AUSTIN, Texas, July 10, 2017 /PRNewswire/ — Telestax®, the Restcomm company, today announced that it has raised a $4.7 million funding round led by LiveOak Venture Partners.
The new investment will enable Telestax to meet the growing and strong demand for its Communications Platform-as-a-Service (CPaaS) enablement platform and RestcommONE™Marketplace. Telestax plans to use the additional capital to accelerate product capabilities, grow the operational support team and expand market reach.
“We are thrilled to bring Telestax into our portfolio of promising companies. The exceptional team, high-value technology and resulting customer adoption of Telestax’s offerings made this a compelling investment for us,” said Krishna Srinivasan, General Partner at LiveOak Venture Partners. “We look forward to helping Telestax with their market and product expansion.”
Telestax’s newly launched RestcommONE Marketplace offers participating service providers a new business opportunity by providing in demand real-time applications and solutions that are certified and integrated into the RestcommONE Platform. This CPaaS-enabled computing paradigm blends traditional telecommunications with new enterprise applications to create and deliver real-time communications business solutions that scale.
“Since our investment in late 2015, the Telestax team has done an outstanding job delivering on the revenue growth while simultaneously launching the cloud and the marketplace platforms. The growth of contextual communications is creating a great opportunity for Telestax and its partners. I am delighted to welcome Krishna to the Telestax family”, said Arun Ramamoorthy, Partner at Pinnacle Ventures.
Since launching its groundbreaking RestcommONE platform in 2011, Telestax has seen exponential growth, with the platform currently supporting 900 million calls per day and 200 million messages per day on premise, and 500 million calls per week and 5.5 million messages per week in the cloud. Telestax has gained over 170 commercial customers on every continent, including industry leaders Avaya, MetTel, Ping An Bank, T-Mobile, Unifonic and NTT-AT.
“The last 12 months have been remarkable for Telestax”, said Ivelin Ivanov, Telestax CEO and co-founder. “We launched RestcommONE, our CPaaS enablement platform, and our RestcommONE Marketplace; and today we have added another business partner with strong proven expertise in telecom and infrastructure software”.
Telestax is quickly becoming the catalyst for bringing real-time communications into the mainstream. Our RestcommONE platform is scalable, highly available and is the only WebRTC platform that supports cloud, on premise and hybrid deployment configurations. RestcommONE is fast becoming the platform of choice for rapidly building enterprise class real-time messaging, voice and video applications. RestcommONE Marketplace connects these new Omnichannel applications with RestcommONE CPaaS-enabled (Communications Platform as a Service) service providers and increases the revenue opportunity for both. The RestcommONE Marketplace is generating a positive disruption in the real-time communications market by changing the way organizations acquire and utilize their business software. Telestax is a privately held global company with headquarters in Austin, TX.
About LiveOak Venture Partners:
LiveOak is a $109MM Fund based in Austin, TX and was founded by Ben Scott, Krishna Srinivasan, and Venu Shamapant(all formerly of Austin Ventures). While many of LiveOak’s investments begin in the early stages, LiveOak is a full lifecycle investor focused on technology and technology-driven service companies based in Texas.
With over 16 years of successful early stage investing in Texas, the Founders of LiveOak have helped entrepreneurs create industry-leading companies, such as Spatial Wireless (acquired by Alcatel-Lucent), Navini Networks (acquired by Cisco Systems), LifeSize Technologies (acquired by Logitech), Mavenir Systems, and StackEngine (Acquired by Oracle).
Telestax® the Restcomm company, today announced its RestcommONE Marketplace™ powered by their proven CPaaS (Communications Platform-as-a-Service) enablement platform, RestcommONE™. Service providers participating in the Marketplace are quickly CPaaS enabled and gain immediate access to available real-time messaging, voice and video applications to sell to their business customers. Service providers now become partners where they profit from a value-based revenue sharing business model that favors themselves, the application vendor and Telestax. Where CPaaS offerings have historically been a single vendor solution that locks partners into their platform, the Marketplace is open to any application and service provider to participate.
The RestcommONE Marketplace offers participating service providers a new business opportunity by providing in demand real-time applications and solutions that are certified and integrated into the RestcommONE Platform. This new CPaaS-enabled computing paradigm blends traditional telecommunications with new enterprise applications to create and deliver real-time communications business solutions that scale.
Today, through the RestcommONE Marketplace, service providers can select SMS-enabled business applications to offer a full choice of rich communications products and services to their existing business customers. Because the service provider becomes their own CPaaS, they benefit from increased margins and keep all traffic on their network. The initial large opportunity for service providers is to SMS enable all of the phone numbers on their network to provide SMS-based products and services. In addition to the available SMS-enabled applications, RestcommONE’s industry leading APIs and robust visual design tool help service providers create revenue generating applications in hours and days. Telestax is quickly adding real-time voice and video-enabled applications to the Marketplace to offer rich WebRTC applications.
“The business models of the current CPaaS players can often be at odds with their service provider partners. Further, as their customers become successful, the costs associated with moving messages, voice and video traffic through these CPaaS platforms can often scale disproportionately,” said Michael Brandenburg of Frost and Sullivan.“ The Telestax RestcommONE Marketplace offers a creative revenue sharing business model that provides high value to business customers while increasing revenue opportunities for application vendors and service providers alike.”
MetTel, Lumin, Ipitimi, Network Intelligence and TeleHealth are among those who are working with Telestax and excited about the prospects the RestcommONE Marketplace offers.
“We are excited to enhance our preeminent communications solutions with RestcommONE’s industry leading real-time communications technology,” said Ed Fox, Vice President of Network Services for MetTel. “As our business customers continue to look to us for over-the-top (OTT) SMS communications, apps and interactions with their end users fueled by artificial Intelligence and other bots, we look to the Telestax RestcommONE Marketplace to enable rapid deployment of these services.”
“We jumped on the SMS/texting movement early by reinventing the success of our popular call center, around SMS. It helps us reach entirely new audiences like the national teen bullying hotline. Teens prefer texting to talking anyway and as a result more victims are willing to reach out. Now we have moved our SMS-enabled call center application to the RestcommONE Marketplace. The process was painless and the opportunity for Service Providers to become distribution partners is incredible,” said Greg Nielsen, CEO of IPitimi”
“Our Marketplace is enabling service providers around the world to quickly offer their own branded CPaaS offering, along with high-value SMS-enabled business applications. It is in the cloud and on par with other CPaaS players. Within a month our service provider partners can be on level playing ground with other CPaaS players in the market and shortly after they can offer their business customers new products and services,” said Ivelin Ivanov, co-founder and CEO of Telestax.
Telestax is quickly becoming the catalyst for bringing real-time communications into the mainstream. Our RestcommONE platform is scalable, highly available and is the only WebRTC platform that supports cloud, on premise and hybrid deployment configurations. RestcommONE is fast becoming the platform of choice for rapidly building enterprise class real-time messaging, voice and video applications. RestcommONE Marketplace connects these new Omnichannel applications with RestcommOne CPaaS-enabled (Communications Platform as a Service) service providers and increases the revenue opportunity for both. The RestcommONE Marketplace is generating a positive disruption in the real-time communications market by changing the way organizations acquire and utilize their business software. Telestax is a privately held global company with headquarters in Palo Alto, CA.
Parsippany, NJ, Thursday, March 03, 2016
Dialogic, a cloud-optimized applications and infrastructure provider for service providers, enterprises, and developers, and TeleStax, a preferred platform for deploying rich scalable communications applications, have announced an agreement to bring the next-generation of communications applications to the marketplace. As a major component of this partnership, TeleStax and Dialogic have integrated Dialogic® PowerMedia™ XMS media server functionality into TeleStax’s Restcomm C3 application deployment platform.
As part of this partnership, Dialogic will include TeleStax Restcomm as part of Dialogic’s Application Development Practice, facilitating the development of scalable WebRTC-based voice, video, and messaging solutions.
“We are very pleased to partner with Dialogic to support the demand for rich, scalable, communications application to the Enterprise marketplace,” said Ivelin Ivanov, CEO of TeleStax. “The partnership with Dialogic enables TeleStax to enter new markets from a position of strength to extend mission-critical solutions to the enterprise and telecoms marketplace.”
“Our partnership with TeleStax is an important facet of our application development strategy, supporting customer’s efforts to create new and innovative applications,” said Jim Machi, Senior Vice President of Product Management and Marketing at Dialogic. “We’ve been working with TeleStax for years, and can confidently say that the TeleStax and Dialogic together can help developers reduce their development efforts and accelerate time-to-market.”
The companies will collaborate at Enterprise Connect during March 7-10th in Orlando, FL with presentations and sponsorship of the Communications API track. In addition, Dialogic will be exhibiting in booth #2209 during exhibition hours.
Dialogic is a leading cloud-optimized solutions provider for real-time communications media, applications, and infrastructure to service providers, enterprises, and developers around the globe. Based in Parsippany, NJ with offices worldwide, Dialogic helps 48 of the world’s top 50 mobile operators, and nearly 3,000 application developers build and deploy on agile networks. Learn more about how Dialogic is enabling agility by following us on Twitter @Dialogic, and visiting www.dialogic.com and the Dialogic Blog for the latest industry news, trends and advice.
Dialogic, and PowerMedia are either registered trademarks or trademarks of Dialogic Corporation or a subsidiary thereof (“Dialogic”). Other trademarks mentioned and/or marked herein belong to their respective owners.
TeleStax’s Restcomm middleware platform is an open source communications and collaboration platform. TeleStax’s Restcomm middleware and applications development platform allows organizations to provide a consistent, reliable and well-structured software development platform that enables developers to quickly build and deploy communications applications and functionality that enhances business practices to improve internal collaboration and customer interactions. Our solution allows companies to integrate additional application functionality, and ultimately migrate from costly legacy equipment and systems such as desk phones, to soft-phones, mobile, soft clients, and video endpoints such as WebRTC and other communications protocols. Further, enterprises are striving to consolidate their multivendor infrastructure and integration with business applications such as; CRM, Contact Center, Collaborative Commerce and other Multi-Channel application solutions.
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