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Natural Convergence secures $12M

Ottawa-based Natural Convergence Inc., a supplier of VoIP (Voice over IP) application software for service provider...


August 5, 2004  


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Ottawa-based Natural Convergence Inc., a supplier of VoIP (Voice over IP) application software for service providers, has announced the successful completion of its Series B financing round worth $12M.

The investment was led by Boston-based VIMAC Ventures, LLC and includes follow-on investment from all existing investors including Jefferson Partners, BDC Venture Capital, Desjardins Venture Capital, Primaxis Technology Ventures, RBQ Inc., and Purple Angel.

Terry Matthews, chairman of Mitel Networks Corp., also joins as a strategic investor through investment firm Wesley Clover.

“During recent reference calls with Natural Convergence’s customers, we encountered strong recurring themes,” said Neal Hill, Consulting Partner, VIMAC Ventures, LLC. “The customers view VoIP as a technology that will have a major impact on their business and they place the roll out of VoIP services as a ‘Top 3’ business priority.

“Globally, carriers have decided that now is the time for implementing hosted VoIP solutions,” said Matthews.