XCast Labs CLOSES $2.7M PReferred round a financing

 

 

LOS ANGELES (November 25, 2008) -- XCast Labs (www.xcastlabs.com), announced today Siemer and Associates, LLC (www.siemerassoc.com) will invest in XCast Labs, a hosted, private label Digital Voice and Video solution for carriers, CLECS, resellers, ISP’s and Cable providers.   “We are extremely positive regarding the future prospects of this provider of solutions in a growing marketplace” states David Siemer.

 

Siemer’s investment closes out a $2.7M Series A round of financing for the company.  Other investors in this round include Frontera Capital (www.fronteracapital.com), members of the Pasadena Angels (www.pasadenaangels.com) and company co-founder and CEO, Cliff Rees.

 

“This round of funding should get us over the hump to being a profitable company,” said Rees.  “We have unique, patented technology that provides our customers with much higher call quality and network efficiency than our competition. In addition, because we developed and own all the core aspects of our technology, we have a much lower cost basis than anyone out there.”

 

ABOUT XCAST LABS

XCast Labs is an advanced SaaS (Software as a Service) provider that has developed a comprehensive suite of software and hardware solutions that enable Cable MSOs / PCOs, CLECs, RLECs, ISPs, MDUs, Resellers and marketing companies to offer integrated IP-based services to their end-users.  The company’s proprietary Digital Voice and Video (DV&V) platform is a fully hosted, IP-based integrated solution that delivers Class 5 switching with MIR (Most Intelligent Routing), Video Telephony, IP-PBX, SIP Trunking and other advanced IP applications.  The platform is a vertically integrated suite of applications and services geared to quick and easy deployment of multiple high-margin services like digital voice, IP-PBX, SIP Trunking, and video conferencing. 

 

For additional information on XCast Labs, please visit: www.xcastlabs.com.