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TransPacificTelecom
-- Corporate Information
Press Releases
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PR for TPT:
Steven J. Leon
Technopolis® Communications Inc.
310-670-5606
sleon@technopolis.com |
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TPT
Contact:
Diane Brandis
Chief Operating Officer
619-595-3122
dbrandis@t-p-t.net
www.transpapcifictelecom.com |
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| FOR IMMEDIATE RELEASE |
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| TransPacificTelecom raises $600,000 in first-round financing |
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| Venture and private capital backs technology service that turns last-mile providers into telephone companies overnight |
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SAN DIEGO, Nov. 5, 2002
- TransPacificTelecom (TPT) announced today it has raised
$600,000 in venture capital and private funding, beginning
a first round of financing that also includes commitments
for an additional half million dollars.
TPT receives the funding as it finishes testing and begins signing customers for award-winning VIVOware and VIVO COMPLETE, billing software and Voice-over-IP (VoIP) network services that turn Internet Service and other "last-mile" providers into telephone companies overnight -- without launching a telecom network, installing one network switch, or building management and billing software from scratch.
VIVOware and VIVO COMPLETE enable hosting companies, satellite, cable and broadcast networks, competitive local exchange carriers and other Alliance Partners and resellers to generate new revenue by offering long-distance phone services to residential, SOHO and small-to-medium-sized business broadband Internet subscribers
Since its preview at the Internet Telephony Conference & Expo in October, TPT has already signed as customers Competitive Local Exchange Carriers (CLECs), Internet Service Providers (ISPs), and small businesses, including 24 Transport Inc., a CLEC in Los Angeles; CCC Communications, an ISP with offices in Los Angeles and San Diego: and National Tax & Business, a consultant in Newport Beach, CA. TPT also signed Freedom2Web for Ricochet (RNI), and has begun testing in San Diego to add VoIP to the high-speed wireless Internet data network.
Winner of a Best of Show award at the Internet Telephony Conference & Expo in October 2002, where it was demonstrated publicly for the first time, VIVOware is a feature-rich billing and customer care software application for VoIP services. It provides complete Web-enabled call detail record tracking, rating and routing, call completion reporting, automated customer invoicing and payment gateway, reporting and management tools with automated domestic and International rate tables, trouble tickets, and more.
VIVO COMPLETE integrates VIVOware with TPT's global VoIP infrastructure and network for routed domestic and international long-distance. For global applications, TPT's software and services deliver voice services over broadband Internet to remote locations where traditional phone service can take months to install and can be prohibitively costly.
VIVO COMPLETE is highly scalable, designed to support a range of business models, including flat-rate billing options and billions of calls. TPT's Alliance Partners and resellers set their own long-distance and local rates, design their own service plans, offer customized commission schedules, and provide personalized agent and customer access to VIVOware's Web-based software.
"VIVO COMPLETE is a plug-and-play solution that enables ISPs and other 'last-mile' providers to become long-distance carriers overnight," said Stephen Thomas, founder and chief executive officer of TPT. "It provides everything a company needs to become successful selling Internet Telephony -- a seamless solution that may be private-labeled or co-branded."
"TPT offers a compelling combination of technology, software and services," said Walt Anderson, an investor who takes a seat on TPT's board of directors. Anderson is manager of Gold & Appel Transfer S.A., a private investment fund based in the British Virgin Islands. He also serves as chairman and CEO of Orbital Recovery Corporation, which is involved in on orbit servicing of geostationary satellites, and as Chairman of Board of Directors of Capsule Communications (NASDAQ- CAPS.OB). He is also the Past Chairman, currently on the board of directors of Covista Communications (NASDAQ: CVST).
"There is little or no competition and, unlike other segments of the telecom industry, we see value and opportunity in TPT's groundbreaking innovations," said Anderson.
Market analyst Forrester Research Inc. reports "the $150 billion U.S. market for voice services has been left for dead - slow growth, low margin, and no innovation. But ripening IP-based services will combine voice with the Web to create vast new opportunities for service providers." Forrester describes VoIP as "a classic disruptive technology," and notes that "an astounding 15 percent of online consumers now use their PCs for voice calls" driving a "30-fold" growth rate.
About TransPacificTelecom
TransPacificTelecom, www.t-p-t.net and.transpacifictelecom.com, 619-595-3122, is based in San Diego.
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