Monday, March 13, 2006

New Global Telecom Raises $11 million for VoIP Expansion

New Global Telecom (NGT), a provider of hosted VoIP services, raised announced the completion of a $10.75 million Series A Preferred Stock financing round to fund continued expansion. The company added 58,000 VoIP end-user seats through 2005, bringing its total at year-end to over 61,000 seats.

The funding round was led by Comcast Interactive Capital and included new investors Centennial Ventures and Columbia Capital, as well as existing investor ICG Communications.

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