InSciTek Microsystems, which provides low cost VoIP solutions to small and medium sized businesses through its Allworx VoIP product line, today announced that it has received $2 million in venture capital from
Cayuga Venture Fund.
InSciTek will use the capital to expand its Allworx product line as well as to expand its sales and marketing reach. The deal brings total investment in the company to more than $18 million.
“InSciTek’s Allworx product line brings the benefits of VoIP to small businesses,” said Jennifer Tegan, partner, Cayuga Venture Fund, in a
press release. “Because of Allworx, small companies have access to an affordable yet sophisticated communications system in a turnkey package that provides greater flexibility and workplace efficiencies. Cayuga Venture Fund is proud to support InSciTek so that more small businesses can gain access to its suite of award-winning communications products and services.”
“Cayuga Venture Fund’s investment demonstrates confidence in our strategy for continued growth,” said George Daddis, InSciTek President and CEO. “This investment enables us to develop a new generation of Allworx products - building on our current portfolio, which already offers the broadest feature set and the lowest installed cost of any VoIP solution for small businesses.”
Other firms which have previously provided funding include Enhanced Capital Partners, High Peaks Venture Partners, Performance Technologies and Cephas Capital Partners.
Allworx made news in March when it rolled out a series of announcements regarding availability of its low cost VoIP solutions for small businesses. Specifically, the company unveiled the Allworx 6x communications/phone system, which, starting at $1,800, is one of the most affordable systems designed for the SMB market. The system is said to enable smaller companies to transition to VoIP “without giving up any of the traditional features they enjoy today.” The company also unveiled the Allworx 9102 office phone, which is “ideal for users with low call volumes who want the operational and cost advantages of a VoIP office communications system.” It enables small businesses to convert all their handsets to VoIP – and offers virtually all the features of the Allworx 9112 VoIP-based phone (including Allworx’s “plug-and-play” remote capabilities in a 2-line configuration). The company also took the wraps off the Allworx Call Assistant, a software solution which works in conjunction with any Allworx phone to deliver enhanced on-site and remote-phone monitoring, plus pinpoint control over call traffic.
“Competitors’ product offerings have not made VoIP a realistic option for small businesses – they’re too expensive, they lack the full features of traditional systems and they’re too complex to install and use,” said George E. Daddis Jr., CEO and president of InSciTek Microsystems, Allworx’s parent company, in a press release. “Today, Allworx is changing all that - with total solutions that break all the rules on price, functionality and ease of use.”
For more information about InSciTek/Allworx, visit
www.allworx.com.
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Patrick Barnard is Associate Editor for TMCnet and a columnist covering the telecom industry. To see more of his articles, please visit Patrick Barnard’s columnist page.
