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Versatel Networks Raises $10 Million

This arrived in my inbox a few minutes ago:

Attached is a copy of our press release this morning announcing an injection of $10M US into Versatel Networks. The timing is quite good for this as I’m sure you will have seen the most recent activity in VoIP – Skype and Ebay, Microsoft and Telio.

This space is heating up with a new drive of commercial activity largely due to strong business reasons and not just technology. In fact some of you likely have used this type of service and can expect to have much more in the form of new applications over the coming months. The advent of Vonage and Instant Messaging support calling is making this platform become a lot more mainstream and as a result service providers must take a new look at how they will make money from a voice based service. The price of calling is constantly dropping in price and the industry is moving from a per minute based model to a bundled and application model. These changes create opportunities and Versatel is well positioned to take advantage of this.

We’ll be at Voice on the Net 2005 next week in Boston demonstrating some of the new services we will be coming out with. Expect to see a number of announcements from us over the next 90 days specifically around new product and new customers.

These are exciting times and I’m happy to say we’re in a good position to take advantage of it.

Bob Mimeault

You can read the press release here.  Congratulations to Bob and the Versatel Team! 

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