Company to Use Latest Funding to Expand Beyond Hosted VoIP Into IP PBX and PBX Segments
FREMONT, Calif. -- U4EA Technologies, Inc., the leading provider of integrated access technology for converged communications, today announced it has closed on a $16 million funding round, bringing total funding to-date to $30 million. The latest funding will be used to meet the growing needs of U4EA's existing customers, to provide solutions that will expand the company's market opportunity beyond hosted VoIP to include IP PBX and traditional PBX segments, and to build wireless capabilities into U4EA's product portfolio.
"We are excited about the market potential for multi-service business gateways and U4EA's leadership in the category," said Brendan Murphy of investor IIU Nominees Limited. "U4EA's ability to land tier one customers focused on delivering converged communications solutions to SMEs bodes well for the company's future and its leadership in the converged services gateway category."
The company also announced the hiring of communications industry veteran Ken Epps as CEO. Epps, who will serve on the Board of Directors, brings more than 20 years of voice, data and video communications experience to U4EA's management team.
"Ken is an innovative, visionary and results-oriented leader with a proven track record of moving start-up companies to the next level," said Columb Harrington, CEO of U4EA Limited, the UK-based holding company for U4EA Technologies Inc. "We are thrilled to have an executive of his caliber on-board as U4EA expands its leadership in multi-service business gateways that enable high-performance real-time IP-based communications."
Epps has deep communications industry experience, specifically around broadband network equipment and solutions as well as broadband and multimedia applications, software and services. Prior to U4EA, he was the CEO of BayPackets, where he transformed a beta product company into a competitive global communications software provider with marquee customers, and international operations and distribution. Epps has also held key executive roles at Williams Communications, Lucent and AT&T, and was instrumental in AT&T's revenue growth with the launch of some of the company's most successful services that included bundling fixed, mobile internet and other services as the foundation of the company's key retention programs. He holds an MBA from Stanford, a M.S. from University of Tennessee, and a B.S. from S.C. State University.
"I am delighted to come on board at such an exciting time in U4EA's growth," said Epps. "The multi-service business gateway is quickly becoming recognized as a critical element in the cost-effective provisioning and management of converged VoIP, data and video services. I look forward to working with U4EA as it facilitates the delivery of next-generation services to a growing list of service provider customers."
U4EA Technologies Inc. was established and incorporated in April 2004 by U4EA Technologies Limited, with the acquisition of core technology and development engineers from Ericsson. The company is primarily funded by three European institutional investors: IIU Nominees Limited, Bluehone Investors LLP, and Singer & Friedlander.
About U4EA Technologies Inc.
U4EA Technologies Inc. is a leading provider of multi-service business gateways that enable service providers to deploy highly integrated, robust, and easy-to-manage access solutions to small and medium enterprise (SME) customers. U4EA's market-leading all-in-one customer premises devices ensure secure, reliable delivery of converged VoIP, data, and video services to SMEs, with cost savings through integrated functionality and improved ease of management. Founded in April 2004, U4EA Technologies, Inc. is a privately held company that has received funding from industry-leading investors. The company is headquartered in Fremont, California, with facilities in Bristol, England; Nice, France; and manufacturing in Shenzhen, China. For more information, visit U4EA at www.u4eatech.com.
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