Austin Communications Firm Telestax Brings In $4.7 Million For Growth
The company will use the money to accelerate product development, grow its operational support team and expand its market reach.
Austin-based communications company Telestax has landed $4.7 million to fund its next stage of growth. LiveOak Venture Partners of Austin was the lead investor in the deal. Founded in 2011, TeleStax previously raised $1.5 million from investors including Pinnacle Partners.
TeleStax offers an open source communications platform for developers, enterprises and communications service providers. The 33-person company will use the money to accelerate product development, grow its operational support team and expand its market reach.
The company launched its RestcommONE platform six years ago, and it now supports 900 million calls per day and 200 million messages per day on premise, plus 500 million calls per week and 5.5 million messages per week in the cloud.
Restcomm lets web and mobile developers develop, deploy and scale real-time voice, video and messaging applications and services.
TeleStax has more than 170 commercial customers including Avaya, T-Mobile and Unifonic.
The company recently debuted its RestCommOne Marketplace, which lets service providers offer real-time applications and solutions.
Krishna Srinivasan, general partner at LiveOak, said the company’s “exceptional team, high-value technology and resulting customer adoption of Telestax’s offerings made this a compelling investment for us.”
This article originally appeared in 512 Tech.