Financing round led by Ventures West includes investments from existing
investors GrowthWorks and BDC Capital.
REDWOOD CITY, Calif. and VANCOUVER, British Columbia, April 25 /CNW/ --
EQO Communications, a leading provider of mobile internet phone services,
today announced that the company has received a US$9 million Series B
financing to fund its global expansion. The financing round was led by
Ventures West and included investments from existing investors GrowthWorks and
"We're ecstatic about having Ventures West on board -- their investment
track record over the past 30 years speaks volumes to their confidence in our
opportunity," said EQO Chief Executive Officer Bill Tam. "By extending our
relationships with GrowthWorks and BDC Capital, in addition to this new
partnership with Ventures West, we will be in a great position to expand our
product portfolio and fund our global presence with products and services that
mobile users will love."
Since its unveiling at DEMO 2006, EQO has established itself as the
premier mobile solution for avid users of Skype, AIM, ICQ, MSN Messenger,
GoogleTalk and Yahoo! Instant Messenger networks.
"EQO is revolutionizing the mobile experience, bringing the best of the
web, Instant Messaging and Voice-over-IP to everyday consumer handsets," said
Sam Znaimer, Senior Vice President, Ventures West. "They have a clear vision
for Mobile 2.0, galvanized by enthusiastic users around the world."
In addition to using funds to fuel global expansion, EQO will also add
depth to their team and invest in new products and services that leverage the
company's core value around enhancing the mobile communications experience.
About EQO Communications
EQO Communications is a Vancouver, Canada-based Company focused on
changing the landscape and economics of mobile communications for consumers
around the world. Applying the business rules of the Internet to mobile
services, EQO has developed a revolutionary mobile consumer voice and
messaging service that reduces international calling costs and keeps people
connected to their friends and contacts from a single phone application. Using
a proprietary mobile soft-switch platform and a presence-enabled Voice-
over-IP (VoIP) signaling network, EQO is capable of delivering presence-
enabled voice calling and instant messaging services to millions of mobile
handsets available worldwide. For additional information please visit
About Ventures West
Ventures West Management Inc., a private venture capital investment
group, is one of Canada's leading investors in early stage technology
companies. Since its founding in 1968, Ventures West has formed eight venture
capital funds which total over $700 million and has invested in more than 130
companies. Ventures West has the people, the expertise, and the capital to
help entrepreneurs develop emerging technology companies into market leaders.
For more information, visit www.ventureswest.com.
GrowthWorks (www.growthworks.ca) is a recognized leader in venture
capital fund management with proven experience in the raising and managing of
capital. GrowthWorks(TM) managed funds, including the Working Opportunity
Fund, GrowthWorks Canadian Fund, GrowthWorks Commercialization Fund, and
GrowthWorks Atlantic Venture Fund, have approximately $800 million in combined
assets. GrowthWorks has a team of skilled and knowledgeable investment
professionals with a combined 200 years of experience. The Investment team has
a proven track record of identifying, analyzing and structuring investments in
emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital
Ltd. For more information, visit www.growthworks.ca.
BDC Venture Capital is a major venture capital investor in Canada, active
at every stage of the company's development cycle, from seed through
expansion, with a focus on technology-based businesses that have high growth
potential and that are positioned to become dominant players in their markets.
BDC Venture Capital has been involved in venture capital since 1975 and has to
date invested in more than 400 different companies. It currently manages
approximately $500 million in venture capital assets invested in the areas of
Life Sciences, Telecommunications, Information Technology, Advanced
Technologies and Funds Investments. For more information, visit www.bdc.ca.
For further information:
For further information: North America, Doug Wyllie of Antenna Group
Public Relations, +1-415-977-1930, firstname.lastname@example.org; or EMEA, Amanda
Mettie of Axicom UK, +44 (0)20 8392 4072, email@example.com; Web Site:
http://www.bdc.ca, http://www.growthworks.ca, http://www.ventureswest.com,