ITXC Receives $10 Million in Funding

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.