RealTime IT News

Voquette Bags $17.3 Million from MP3.com, Philips

Voquette, Inc. Thursday announced it has completed a $17.3 million equity financing led by 21st Century Internet Venture Partners and including Citigroup Investments, MP3.com, Inc. and Philips Electronics. A group of previous seed investors also participated in the round.

The company had previously raised $5.1 million in seed capital from a group led by iMinds Ventures and Voquette's chairman and chief executive officer, Philip J. Monego. Other seed investors included Broadview SLP, Net Angels Fund II LLC, Pareto Partners, and individual investors.

Voquette provides software solutions designed to enable people to easily collect, organize, transfer and play digital audio from the Web, including MP3 and streaming audio programming. The company has partnered with major consumer electronics manufacturers to make digital audio more portable and easier to access.

"With this new investment, we can aggressively pursue our vision of bringing Web-based digital audio to the ears of every Internet user," said Monego.