Published in Interface Tech News
LOWELL, Mass. ‹ NetNumber recently drew a $15 million infusion from Mountain View, Calif.-based VeriSign and Science Applications International Corporation's venture capital subsidiary, SAIC Venture Capital Corp., located in Las Vegas, Nev.
NetNumber is betting the injection of cash will enable continued expansion of its e-numbering services for voice-over-IP (VoIP) providers.
E-numbering translates international-standard phone numbers into IP addresses for connecting with IP phones, according to NetNumber CEO Glenn Marschel. He said the company will use the money for general operations and expansion of its marketing efforts.
At present, the company has one client, Webley Communications of Deerfield, Ill., and between 12 and 20 companies working to incorporate NetNumber's products, Marschel said.
An IDC report in late August stated that the recent economic downturn will "slow but not stall" the trend toward adopting VoIP technology. The report confirmed that several companies in the VoIP sector have also received additional rounds of venture capital funding.
Marschel said VeriSign and Science Applications had previously announced their intentions to compete with one another. He attributed the new collaboration to the firms' work together on standards and regulatory issues.