MOBIVOX Rings up $11 Million in Funding from Top-Tier Global Investors



    Company That Makes Free International Calling Possible from Any Phone
Attracts Investment from Four Countries

    MONTREAL, October 11 /CNW/ - MOBIVOX, which makes it possible to connect
with family and friends around the world for free from any phone, today
announced it has received $11 million in Series A venture capital funding from
top-tier investment funds in the United States, China, Southeast Asia and
Canada. MOBIVOX will use the infusion of capital to expand its global reach.

    Led by IDG Ventures Boston, the Series A round included participation
from IDG Ventures China and IDG Ventures Vietnam, which are part of the IDG
Ventures global network of funds. In addition, two previous investors,
Brightspark Ventures of Toronto and Skypoint Capital Corporation of Ottawa,
participated in the round.

    As part of the funding, David Aronoff, general partner of IDG Ventures
Boston, will join the company's Board of Directors.

    "IDG Ventures Boston understands the power of connecting people
seamlessly on a global scale," said MOBIVOX CEO, Stephane Marceau. "We
envision a company that brings you closer to the services and people you care
about by extending the reach and power of the Internet to any phone. Our
service is designed for novice and tech-savvy consumers alike and does not
require the purchase of a new device or installation of any software. We now
have top investors from around the world, with deep insights and relationships
into the consumer Internet space to help us achieve our vision."

    MOBIVOX calls are free from anywhere in the world to over 40 countries
and members save up to 98% on all other international calls. After registering
at www.mobivox.com, you simply dial a local access number to connect with
friends and family a world away. When you call, you just say the name of who
you want to talk to. No need for a calling card, PIN numbers, computers,
special software or complex downloads. It works on any phone and membership is
free.

    "In the three months since its initial launch, MOBIVOX has achieved
incredible traction in the market," said David Aronoff of IDG Ventures Boston.
"MOBIVOX represents freedom to millions of consumers who work hard to maintain
long distance relationships. We look forward to working with the company as
they revolutionize the international calling market."

    IDG Ventures is a global network of independently managed venture capital
funds with $2+ billion under management. The IDG Ventures network is comprised
of five independent partnerships managing funds in North America, China,
Vietnam and India. MOBIVOX represents the first investment where multiple
funds from within the IDG Ventures network have co-invested in a company.

    To learn more visit: www.mobivox.com

    About MOBIVOX

    MOBIVOX makes it possible to call family and friends around the world for
free, from ANY phone. Just call a local MOBIVOX number and say who you'd like
to speak with. No calling cards and long numbers to remember. No need for a
computer, special software or complex downloads. With global availability,
MOBIVOX means more freedom to share experiences with those you care about no
matter where you or they may be.

    About IDG Ventures Boston

    IDG Ventures Boston is an independent partnership that enables
entrepreneurs to grow innovative, global companies. With $280 million under
management, the firm is focused on investing in early stage technology and
life sciences companies and is affiliated with the IDG Ventures network of
funds, a global network of independently managed funds spanning Asia and North
America. www.idgvb.com

    About IDG Venture Investment China

    IDG Venture Investment China is a premier venture firm in China focused
on helping early to growth-stage companies become significant players in the
IT, consumer, media and life sciences industries. The firm has demonstrated
success with over 30 IPO's and successful M&A transactions and a portfolio
that includes Baidu, CTrip, Sohu, Tencents, HomeInns, and KingDee. With a
14-year history of investing in China and $1.3B under management, IDG Venture
Investment China is proud to have won the trust of entrepreneurs, investors,
business communities and government organizations. www.idgvc.com

    About IDG Ventures Vietnam

    IDG Ventures Vietnam is the first technology venture capital fund in
Vietnam. With $100M under management, the fund invests in market-leading
companies in the technology, media and telecommunications sectors in Vietnam
as well as select parts of Southeast Asia. As part of the network of IDG
Ventures funds worldwide, IDGVV has been at the forefront in the development
of the venture capital industry in the region as well as promoting technology
entrepreneurship. www.idgvv.com

    About Brightspark

    Brightspark Ventures is a leading early-stage venture fund. Brightspark
works closely with entrepreneurs to develop and build market-leading software
companies. With offices in Toronto and Montreal, Brightspark is backed by
leading institutional investors who share its approach to early-stage software
investing. www.brightspark.com

    About Skypoint

    Skypoint Capital(R) (www.skypointcorp.com) forms and manages venture
capital funds that stimulate and leverage the ever-changing telecommunications
and information technology sector. We begin by investing time with the
entrepreneur long before we commit capital. Once we invest, we bring our vast
operating experience and passion for growing businesses to our portfolio
companies. The members of the Skypoint Capital team have participated in more
than 80 technology start-ups in the Ottawa and Montreal regions.




For further information:

For further information: MOBIVOX Sue Huss, 619-379-4396
bizpr@mobivox.com or IDG Ventures Boston Kate Castle, 617-534-1228
kcastle@idgventures.com

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MOBIVOX

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