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Audio-Visual Messaging Company Plivo Secures $ 1.75 Million From Multiple VC Firms
Voice and messaging application platform provider Plivo has managed to acquire seed-funding of US$ 1.75 Million from Andreessen Horowitz, Battery Ventures, Qualcomm Incorporated and SV Angel. Founded a year ago by Venkatesh B (Venky) and Mike Ricordeau, the company offers audio-visual communication tools based on easily accessible HTTP APIs.
The promising startup has been continually receiving funds from some of the prestigious VC funds including Y Combinator and its partners who collectively put up US$ 1,67,000 last year. Even before setting foot in the real world, the company was incubated in The Morpheus accelerator program’s sixth batch who, at culmination of the program, had pumped in US$ 10,000 in initial stages & even managed to get the company US$ 250,000 via other VC firms.
What exactly does the company offer? Plivo tries to cut down the cost incurred in setting up audio-visual communication platform required by companies who work on a global scale. By replacing complex telephony structures with simple, yet powerful & scalable HTTP APIs, the company effectively puts the communication module of any organization ‘into the cloud’.
Known basically as ‘Hosted Telephony’, Plivo’s product holds great promise as companies are routinely moving majority of their applications, some very sensitive, to the cloud or third-party hosted servers located off-site. This helps organizations cut down on infrastructural expenses & concentrate more on product innovation.
This round of funding is going to be utilized for the very same purpose like innovation in video and WebRTC apart from expanding the sales and marketing efforts. The company’s current staff of just seventeen works from the corporate headquarters in US (San Francisco), but just like every smart company, they have an operations office in Bangalore India.
Cloud based infrastructural development is allowing companies to think big while keeping data & processor intensive tasks on someone else’s servers. Products like Plivo’s are helping keep running expenses low & overheads suppressed. Besides flexibility & efficiency, what benefits can our readers point out about these products?
Website | Plivo
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2012-12-05 06:41:21
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