TeleSphere Adds $10 Million

TeleSphere, a Phoenix-based provider of managed telecom and Internet services, has raised $10 million in new VC funding. Greenspun Corp. was joined by return backers Rally Capital and Hawkeye Capital.

 

PRESS RELEASE

TeleSphere, a Phoenix-based managed telecommunications and network services provider, announced today it has closed on an additional $10 million of private equity funding. The private investment will be used to continue TeleSphere's national expansion, including multiple market launches planned for 2008 and 2009.

“The additional funding is an important statement from our investors about their belief that TeleSphere's technology and service offering are the smart choice in today's market,” said TeleSphere's Chief Executive Officer, Clark Peterson. “Customers are seeking the latest in telephone and network services to make them more productive, cost-effective, and to focus more of their capital on their core business — especially in today's economic climate.”

This round of funding includes some of TeleCom's most highly respected investors, including founding investor Rally Capital, whose Managing Director, Dennis Weibling, serves on TeleSphere's board of directors; and Hawkeye Investments LLC, whose President, John Chapple, also serves on the board. Greenspun Corporation