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Wheelings & Dealings: Voxeet Receives $1.5 Million from Investors for Audio-conferencing

January 29, 2014

Voxeet, which offers conferencing services for businesses, has received $1.5 million in seed-round funding.

Leading the round was Partech Ventures. Also taking part were Aquiti, Kima Ventures and some angel investors such as Oleg Tscheltzoff of Fotolia and Jacques-Antoine Granjon of Vente-privee.com.

The product was developed for business users who are on-the-go with mobile devices. It targets smaller to mid-sized companies which are in the United States and Europe. The new money will be used to expand Voxeet's operations, product development and marketing.

"We're gratified that these investors share our vision that there is still a lot of room for innovation in audio conferencing," company CEO and founder Stephane Giraudie said in a statement. "People who use Voxeet tell us that our simplified approach of click and connect, combined with unsurpassed audio quality, are things they have long yearned for after straining to hear and understand participants in conference calls on services from other providers."

Investors are enthusiastic about the company offerings. For instance, Romain Lavault, a partner at Partech Ventures, said, "We have seen in Voxeet a huge potential of disruption of the conference call market, which hasn't evolved much in the last 20 years. Businesses worldwide can now take immediate benefits from Voxeet's advanced sound processing and a unique distributed cloud infrastructure that revolutionizes the entire meeting experience. Voxeet takes the entire industry in a leap forward, much like what Skype did in 2003 to the traditional calling market."

Voxeet was founded in 2009, and provides conference calling with clear 3D HD audio, intuitive interfaces and one-click transfers between devices, according to the company statement. It also provides HD audio and sound algorithms which users will see have lower background noise and echo, as well as no talk-over. An app can be downloaded for free from the app store or Google PLAY. A version for Windows PCs is offered via the Voxeet website. The app allows up to eight participants to take part in a conference call.

Improved sound quality in audio conferences is something that is sought by smaller and medium-sized companies – so the services make sense for the marketplace. There are also many reasons why businesses are opting for more audio conferences, such as it provides a way to avoid expensive travel for in-person meetings. It provides, too, a way for employees to meet with each other, even if they are in remote offices or work from home.

Edited by Cassandra Tucker