The financing was co-led by Wasatch Venture Fund, an affiliate fund of Draper Fisher Jurvetson and vSpring Capital. Other investors included the University of Utah’s University Venture Fund and the iOCS Venture Fund. The investment will support LignUp’s expansion of operations and market penetration in the US, Europe and Asia-Pacific.
LignUp was founded in 2004 and delivers a Web services-based VoIP communications platform deployed with IP-PBX, IP-Centrex, Voice Mail, Unified Messaging, and IVR web applications. It has had six US customer wins in the hosted telephony market, and has over 100 customers in the on-premise enterprise telephony market in Japan.
