U.S. and World Newswire
:
Business
:
Funding and Investment
News
InSciTek Secures $2 Million in Additional Funding from Enhanced Capital Partners LLC
Published: Tue, 28 Feb 2006, 15:03:00 GMT
Total investment in company exceeds $16 million
FAIRPORT, NY (SEND2PRESS NEWSWIRE) -- Further demonstrating its emerging leadership in the Voice over Internet Protocol (VoIP) marketplace, InSciTek Microsystems Inc. (www.inscitek.com) announced today that it has received a $2 million investment from Enhanced Capital Partners LLC.
 With this additional funding, total investment in InSciTek has exceeded $16 million, which the company is leveraging to bolster its proven Allworx product line and its sales and marketing operations (www.allworx.com).
Enhanced Capital Partners LLC officials stated that it made this investment because InSciTek/Allworx is well-positioned for tremendous growth due to its cutting-edge communication solutions and the fact that an outstanding management team composed of seasoned Fortune 500 executives leads the company.
"InSciTek is delighted that Enhanced Capital has made this investment in our company. I believe it is a reflection of the growing excitement for VoIP communications within the small business market," said George Daddis Jr., president and CEO, InSciTek. "This latest round of funding further exemplifies the confidence investors have in our business model, in our growing product portfolio, in our technology and in our strategy for future growth."
About InSciTek/Allworx
Founded in 1998, InSciTek Microsystems Inc. (www.inscitek.com) is a multi-million-dollar company based in Fairport, N.Y. Its experienced engineers - specializing in imaging, systems monitoring and communications applications - apply hardware and software expertise to help a range of businesses develop high-performance, cost-effective products that are strong, smart and easy to use. The company's consulting division provides high-end product development technology consulting to Fortune 500 and other companies.
Allworx - InSciTek's product division - provides a complete, feature-rich Voice over Internet Protocol (VoIP) and PC network system that allows small- and medium-sized businesses to make a low-cost, no-risk transition to VoIP - at their own pace and without disruption to existing operations. Allworx offers a powerful combination of traditional and Internet-telephone capabilities that enables customers to improve productivity and to save money. For more information, visit www.allworx.com or call 1-866-ALLWORX (255-9679).
About Enhanced Capital Partners
Enhanced Capital Partners LLC (www.enhancedcapital.net), formed in 1999, is a national investment firm specializing in state-specific investments in small and emerging companies with its private investment funds. The company's goal is to promote the growth and expansion of small businesses, while attaining significant returns for its investors by mentoring and leveraging additional private equity for its portfolio companies through its partnerships.
Enhanced Capital Partners LLC made the InSciTek investment from its New York Capital Fund. The company also has established investment funds in Alabama, Colorado, Louisiana, Texas and Washington, D.C.
NEWS SOURCE: InSciTek Microsystems Inc. / Allworx
Send2Press® is the originating wire service for this story.
» Read More Funding and Investment News
» Other Send2Press Industry News by Category
More Information and Media Contact:
For questions about this story, contact the news source:
»
Click Here for Contact Information
THE CONTENT OF THE ABOVE NEWS STORY WAS PROVIDED BY THE NEWS SOURCE WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT SEND2PRESS (THIS WEBSITE).
O T H E R R E S O U R C E S
T E R M S O F U S E
This article is Copr. © 1983-2008 Neotrope / Send2Press. Reproduction of this news article version requires written authorization. You may freely link to this article. Journalists (see the section "Journalist Resources" above) may use orig. news release as the basis for an article.
News Websites may republish the "news release" text version linked to above under "Journalist Resources" except must retain "Send2Press Newswire" as the source of this news if used verbatim. Websites which offer/sell PR or newswire services, or web promotion services, or "splogs" may NOT reprint our content in ANY form. Send2Press Newswire is a service mark of, and "Send2Press" is a registered trademark of, Neotrope. Creative Commons - Some Rights Reserved (3.0) - Attribution Required.
DISCLAIMER: the above article is believed accurate but not guaranteed, and is based on business news supplied by the source (InSciTek Microsystems Inc. / Allworx). The noted source is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements. Neotrope/Send2Press makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news and profiles are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope or Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.
REFERENCES: InSciTek Secures $2 Million in Additional Funding from Enhanced Capital Partners LLC, Allwox, InSciTek Microsystems Inc., Enhanced Capital Partners LLC, funding, investment, New York, Voice over Internet Protocol marketplace, VoIP, George Daddis Jr., imaging, systems monitoring and communications applications, Internet-telephone, Feb 28, 2006.
VIEWED BY MEDIA (and public): 3225 times (1 today, 5 this week,
35 this month, 395 this year)
| Lucy Hood to Deliver Keynote Presentation at Private Capital Network Breakfast Meeting |
| LBA Group Makes Premier List of the 5,000 Fastest-Growing U.S. Businesses |
| Investors Evaluate Early Stage Companies through Online Videos at PlanHeaven |
| Infrastruct Security, Inc. Exceeds $20 Million Annual Revenue with New Round of Financing |
| Social Network Technology and VoIP Provider YFonGlobal Raises Second Angel Round for a Total of $1.8 Million |
| Napatech Receives USD 7.5 Million Venture Capital Funding |
| CADFORCE, Inc. Announces $3.1 Million in Venture Capital Financing |
| Epeius Biotechnologies Corporation Receives $400,000 Grant to Support Gene Therapy Trials for Pancreatic Cancer |
| Crescent Diagnostics Secures Venture Capital Financing Investment to Advance the Development of its Novel Bone Quality Test |
| Authernative, Inc. Raises $2.5 Million in Series A Funding to Extend Its Position as Emerging Provider of User Authentication and Identity Management Solutions |
| LFR Communications, Inc. dba Graphcard.com to Raise $5,000,000 Via Private Placement |
| Napatech Receives $5 Million Venture Capital Funding |
| InSciTek Secures $2 Million in Additional Funding from Enhanced Capital Partners LLC |
| Point to Point, Inc. Announces Emergence from Bankruptcy; Components of Bankruptcy Financing |
| CADFORCE Secures $1.7 Million in Series A Funding Led By Santa Barbara-Based Venture Capital Firm, Rincon Venture Partners |
| Symphony Wealth Management Group's Ovation Fund Blazes New Trails on the Efficient Frontier and the Utilization of ETFs |
| American Finance Finalizes Agreement on Global Oil Tools' Liabilities |
| First American Makes Equity Investment in ComplianceEase - Industry-Leading Technology Providers Partner to Offer Essential Bundled Solutions |
| BRANDCONTROL.NET Receives Second Round of Venture Capital Funding |
| InSciTek Successfully Closes $4.0 Million for the Allworx Product Line |
| 25 Security Industry CEOs and Presidents Share Their Views on Growth Trends and the Business of Security |
| Young Investing Phenom Unlocks the Keys to the Stock Market |
| New Source of Financial Information has Words of Caution for Retirees |
| Lehman Brothers' Chief Investment Officer and Managing Director, Private Investment Management to Speak at New England-Canada Business Council's May Luncheon Meeting |
| The Lyamec Corporation Reaches Milestone Expansions in Great Britain, France, Canada, and Libya |
» View All News Channels
» Press Release Services
» Send2Press Home Page
|
|
|
|
|
Subscribe in a reader
PLAIN TEXT FORMAT (UTF-8)
PDF FORMAT
