RealTime IT News

Vstream Secures $100 Million in Financing

Vstream Monday raised $100 million of private capital from investment partners Centennial Funds, Highland Capital Partners (HGUBE)) and SOFTBANK Venture Capital.

In addition, Vstream has added new strategic investors in this round, including Excite@Home, GE Equity, Nexus Group, Matsushita Electric Industrial Co. Ltd. (Panasonic), Pequot Capital and Viventures Capital.

Vstream will use the funds to execute the company's strategy to define its position as the leading communication services provider. Using the Internet as a vehicle and the end-user experience as its focus, Vstream improves and strengthens the way business users exchange voice, video and data.

Included are building out the company's infrastructure to meet demand in the U.S. and Western Europe, developing and expanding its service offerings and continuing to build the Vstream brand in the market.

"Vstream sees the Internet as the glue that holds communications together," said Paul Berberian, co-founder and CEO of Vstream. "We move beyond ISPs and ASPs by providing services that fundamentally change the way people communicate. The additional funding allows Vstream to propel our leadership in the emerging communication services provider space."