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InSciTek Secures $2 Million in Additional Funding from Enhanced Capital Partners LLC
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
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InSciTek Microsystems Inc. / Allworx : » InSciTek Secures $2 Million in Additional Funding from Enhanced Capital Partners LLC » InSciTek Successfully Closes $4.0 Million for the Allworx Product Line » Group Midwest Adds Innovative Allworx Products to Its Lineup
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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, press release, Feb 28, 2006. |
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