Funding Flash: NewVoiceMedia lands $50M, bitcoin startup Xapo gets $20M

NewVoiceMedia, a San Francisco company that provides cloud contact-center products, announced Wednesday it has raised $50 million in new funding.

The funding round, which nearly doubles the company’s total fundraising, is another sign that more companies are turning to cloud solutions to power customer service.

The round was led by Technology Crossover Ventures, a new investor, joined by shareholders Bessemer Venture Partners, Highland Capital Partners Europe, EdenVentures, Notion Capital and This takes the total raised by the company over the last 18 months to $105 million; its previous funding round was $35 million.

NewVoiceMedia launched in 2000 and offers a telephone service that uses cloud technology to allow companies to contact their customers worldwide through contact centers. The company said in a news release it will use the cash infusion to expand internationally — it already operates in 40 countries — and build out sales, marketing and other services.

In other valley funding news, Xapo announced Wednesday it has raised a $20 million Series B, doubling the startup’s total funding. Investors include PayPal co-founder and serial entrepreneur Max Levchin, along with firms Emergence Capital Partners, Index Ventures and Greylock Partners.

This is the latest round of cash valley investors have funneled into a bitcoin product, as support for the cryptocurrency continues to grow in the tech community — despite its many hiccups, such as the bankruptcy of Tokyo-based bitcoin exchange Mt. Gox. Palo-Alto based Xapo sells a digital wallet to store bitcoin and and a locked-down vault, for both everyday use of bitcoin and long-term security, the company says. Users can create a bitcoin wallet and then move their coins into a vault for an annual custody fee of 0.12% of their vault balance

The company, founded by Wences Casares, previously raised $20 million from Slow Ventures, Benchmark Capital and Fortress Investment Group, among others.


Image courtesy NewVoiceMedia



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