COMMPARTNERS RAISES $15 MILLION FOR ACCELERATED BUILD-OUT OF NATIONWIDE IP/PSTN NETWORK AND DEVELOPMENT OF SALES CHANNELS Total of $28 Million Raised for IP-Based Communications Company
Las Vegas, Nevada - February 15, 2005 - CommPartners, an IP-based network operator and telephony services and solutions provider, today announced the completion of a $15 million capital financing round that will enable the company to accelerate the build-out of its nationwide IP/Public Switched Telephone Network (PSTN) for Voice-over-Internet-Protocol (VoIP) services, and augment its sales channel and carrier services programs.
CommPartners, formed in 2003, said it will use the additional capital to extend its IP/PSTN network coverage to 95% of domestic U.S. local calling areas by year-end 2005. CommPartners' current coverage area features an "NFL city footprint" with VoIP services and local telephone numbers available in major metropolitan areas across the U.S. With over 20 state certifications in place, CommPartners has applied for and expects to obtain Competitive Local Exchange Carrier (CLEC) status in all 50 states by mid-2005, classifying it as one of the largest CLEC networks in the U.S. The company says it has architected its network for business-quality VoIP services, E-911 emergency services capabilities and CALEA compliance-emerging issues that pose challenges to many VoIP service providers.
"We are pleased to have successfully raised the capital to accelerate the build out of our robust and reliable IP/PSTN network and enhance services to our growing list of wholesale VoIP services customers," said David Clark, president & CEO, CommPartners. "As a fully-funded, debt-free company, CommPartners looks forward to our continued growth and success in the fastest growing market in telecommunications."
"VoIP is a dynamic, disruptive and emerging technology that presents significant advances in efficiency, productivity and lower costs to customers," added Clark. "At the same time the nature of VoIP presents regulatory and public policy questions that creates an uncertain investment climate. CommPartners' strategy and success are not dependent on any single regulatory outcome, but instead on carrier-quality, cost effective and reliable IP network and VoIP services and applications particularly targeted to business customers. Our unique strategy enabled CommPartners to raise the capital necessary for execution of our business plan in this otherwise challenging capital market."
According to Gartner Inc, by 2006 half of all businesses will best be served by engaging in selective sourcing of Internet protocol (IP) telephony services. With such growth potential for IP telephony services, providers are offering a wide range of services. Among this range, Gartner analysts say managed IP telephony and IP Centrex, core to CommPartners' Business VoIP
service offerings, will be the most successful IP voice services for U.S. businesses over the next three years.
Clark said, "CommPartners will also use funds to further enhance its CommPartners Management System (CMS) proprietary OSS platform for automated provisioning, billing, user interface and back office support capabilities." Other uses of funds include CommPartners' development of its sales channels and partner support programs, including training, marketing and sales support of its wholesale partners.
CommPartners' turnkey wholesale solution enables service providers to offer full-featured bundled service packages with unlimited local and long distance calling, simultaneous calling, call transfer and "find me" service, voicemail, Caller ID, conferencing, a user-friendly Web control portal for managing inbound and outbound calls and moves, additions and changes, auto attendant, and abbreviated (four digit) dialing between offices.
CommPartners also offers "carrier services" for origination and termination of traffic into the domestic PSTN.
About CommPartners
CommPartners, Inc. was formed to "Enable the VoIP Promise" by offering hosted Voice over Internet Protocol services, including IP Centrex, hosted PBX and conferencing functionality and IP to PSTN connectivity to broadband and service providers. CommPartners' hosted VoIP services are designed for Internet Service Providers (wireline and wireless), IT Integrators, Multiple Service Organizations, Private Cable Operators, Independent Operating Companies, Fiber-To-The-Home and Overbuilding Entities. Founded and operated by industry veterans, CommPartners has a belief in optimizing packet-based protocols in a distributed architecture to facilitate VoIP connectivity and service offerings for broadband and service providers. For more information, call 702-367-VOIP (8647) or visit CommPartners' website at www.commpartners.us.