Telestax, an Austin-based company that makes real-time messaging, voice and video apps, has raised a $4.7 million funding round that comes on the heels of the launch of the company's latest communications tool.
In late May, the company, which was founded in Palo Alto, Calif. in 2011, launched the RestcommOne Marketplace, which operates on on Telestax's cornerstone platform. It lets Telestax's existing service provider customers sell real-time apps that fit into the RestComOne platform they're already using with their customers. That means you could move a text message conversation to a call and beyond all within the system.
Telestax plans to use the new funding announced on Monday to expand operational support and market reach. The $4.7 million round was led by Austin's LiveOak Venture Partners. And it adds to an $809,911 seed-stage round led by Pinnacle Ventures in 2015.
"The exceptional team, high-value technology and resulting customer adoption of Telestax’s offerings made this a compelling investment for us,” LiveOak Venture Partners General Partner Krishna Srinivasan said in a news release. “We look forward to helping Telestax with their market and product expansion.”
The company already has a massive user base and 170-plus commercial customers, including T-Mobile. It says its platform supports 900 million calls and 200 million messages per day on premise. Another 500 million callas and 5.5 million messages come through the cloud.
“The last 12 months have been remarkable for Telestax," Ivelin Ivanov, Telestax CEO and co-founder, said in the news release. “We launched RestcommONE, our CPaaS enablement platform, and our RestcommONE Marketplace; and today we have added another business partner with strong proven expertise in telecom and infrastructure software."
(Image via LinkedIn)
