IN THE NEWS
TeleContinuity, Inc. Completes $4.71 Million Series B Financing Round
Mr. Michael Rosenberg
Executive Vice President, TeleContinuity
240- 453-6238
mrosenberg@telecontinuity.com
ROCKVILLE, MD (March 31, 2006) - - TeleContinuity, Inc. announced today that it has completed its Series B Financing Round of $4.71 Million. “We are very pleased with the closing of this investment round,” said Roy Pinchot, CEO of TeleContinuity. “This financing will assist the company in bringing to market the TeleContinuity platform through its channel partners who represent the leading telecommunication services companies in the industry.”
The investment round was led by SoftCapital with co-investments from several other institutional funds from Japan and Europe as well as strategic investment from some of TeleContinuity’s existing strategic partners and current stockholders. “The technology, network and capability that TeleContinuity has developed solves a global problem that has impacted every commercial and government organization worldwide. TeleContinuity is the leading voice for continuity and disaster communications around the world and we are very excited about its future,” said Noboru Ito, President of SoftCapital.
About TeleContinuity, Inc.
Founded in the wake of September 11, 2001 and the subsequent anthrax attacks on Congress, TeleContinuity is focused on providing telecommunications-assurance services to government and businesses customers worldwide. Positioned as "telecommunications gap insurance," TeleContinuity delivers a seamless, low cost, network-level solution that will restore incoming telephone service to users within minutes of a PBX or telephone company failure, fiber cut, fire, flood, building evacuation, or catastrophic event. TeleContinuity, Inc. is a 2003 winner of The National Institute of Standards and Technology's Advanced Technology Program (NIST-ATP) Grant Competition. For more information, visit www.telecontinuity.com.
About SoftCapital
Established in 1987, SoftCapital has served as a bridge, meeting selected company’s capital needs between the venture business and private investors. Most of SoftCapital’s sources of capital are investors whose investment criteria are early stage investment or bridge financing opportunities that support long-term business buildup. Currently SoftCapital manages approximately 850 clients.