ITXC Receives $10 Million in Funding
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New Brunswick, NJ-based ITXC Corp. said it received $10 million in venture capital funding from investors that include Intel, Chase Capital Partners, and Flatiron Partners.
ITXC (Internet Telephony eXchange Carrier) provides wholesale routing, monitoring, authorization and settlement services for Internet Telephony providers. The company began live routing of phone calls made over the Internet in April, and plans first to develop its company infrastructure, according to the Silicon Alley Reporter.
By translating calls into packetized data for transmission over the Net, where no taxes, tariffs or additional charges currently exist, carriers (and ultimately consumers) benefit from calls up to 50% cheaper than over traditional phone lines.
Mary Evslin, director of marketing for ITXC was quoted as saying the two greatest developmental tasks confronting the company are promotional efforts for both company and voice-over-Internet services, and developing relationships with potential originators/terminators of IP-based traffic.