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VOIP LOGIC ANNOUNCES SERIES A & B FUNDING FROM 21VENTURES


VOIP LOGIC ANNOUNCES SERIES A & B FUNDING FROM 21VENTURES


NEW YORK and WILLIAMSTOWN, MA, March 8, 2006 – VoIP Logic™ LLC, a leading hosted and managed multimedia IP applications provider, today announced that it has closed on $1.25 million in Series A and B financing from its sole institutional investor 21Ventures LLC.

“The up rounds closed late last month and will be used to finance VoIP Logic’s new regional headquarters in the Asia-Pacific region and to accelerate the development of a proprietary application to simplify the deployment and management of complex, multi-vendor VoIP networks,” said Micah Singer, Founder and CEO of VoIP Logic. “Monies will also be used to augment our marketing and hiring initiatives throughout 2006.”

Profitable since its founding in 2003, VoIP Logic experienced a 73% increase in revenue and 282% increase in net income from 2004 to 2005. The company provides on-demand hosted and managed VoIP applications for telecommunication service providers, i.e., wholesale carriers, calling card and international long distance retail carriers, CLECs and ISPs. VoIP Logic currently has 14 employees supporting the network management needs of over 50 customers worldwide.

“Experts agree that the market for on-demand VoIP applications will continue to increase exponentially over the next several years as users implement next generation IP voice and multimedia services” stated David Anthony, Managing Partner of 21Ventures. “Given this need and resultant revenue, VoIP Logic is well positioned for even greater success. The company’s innovative, cost effective offerings together with its tradition of quality customer service and talented management team will prove a winning combination for both VoIP Logic and its customer base.”

About VoIP Logic

VoIP Logic LLC is a leading provider of hosted and managed VoIP applications. VoIP Logic enables telecommunications service providers worldwide to build and monitor flexible and scalable VoIP networks with little upfront capital expenditure or in-house expertise. From infrastructure to applications, VoIP Logic provides a comprehensive set of on-demand service offerings for deploying, upgrading and managing the effectiveness of IP multimedia networks. Founded in March 2002, the company is headquartered in Williamstown, MA, with regional headquarters in London and Seoul, South Korea. Visit: www.VoIPLogic.com.


About 21Ventures

Founded in 2003, 21Ventures LLC invests in seed and bridge financing for both private and public technology ventures in Israel and non-core technology regions across the U.S.; its goal is to bridge the widening gap between 'friends and family' funding and initial professional capital. 21Ventures focuses on portfolio companies in the Energy, Financial Services, Information Technology, Life Science, Media, Semiconductor and Telecommunication markets. In addition to its VC activities, 21Ventures designs and delivers entrepreneurial training programs for scientists, engineers and technology developers worldwide. The company is headquartered in New York City and has made eleven investments to date. Visit: www.21Ventures.net .
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Forward-Looking Statements

Estimates, expectations and business plans are forward-looking statements. Actual future results, including product introduction schedules, market receptiveness, regulatory approvals and commercial viability, could differ materially due to changes in conditions affecting the industry, political, legal or regulatory developments, and market conditions.

Copyright © 2006 21Ventures LLC. VoIP Logic is a trademark of VoIP Logic LLC.


Publisher Contact Information:

21Ventures
770-235-5918
smp@21Ventures.net

Company profile of 21Ventures
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