Voicemail-To-Text Firm SpinVox Raises $100 Million; $500 Million Valuation; No Plans To Go Public
By Joseph Weisenthal - Wed 19 Mar 2008 01:23 PM PST
London-based SpinVox, which converts voicemails to text, has raised $100 million from Goldman Sachs, along with GLG (SEO: 066570) Partners, Blue Mountain Capital Management and Toscafund Asset Management. It brings the company’s total amount raised to $200 million. Christina Domecq told Reuters that the round valued the company in excess of $500 million. Last week, there were reports that the company had hired Goldman to help it raise money and to explore a possible IPO. It had previously explored the public markets back in 2006, though it wasn’t able to drum up sufficient interest. At this point, the company says it has no plans to go public, but is keeping open all options. It plans to use the funding to expand in North America, as well as to improve its speech-to-text functionality in more languages. In addition to its partnerships with carriers, SpinVox has also gotten into the social networking game, having developed applications for sites like MySpace and Facebook.
Posted in: Countries, Europe, UK, Money, IPO, VC M&A, Venture Capital
Tags: toscafund asset management, glg partners, blue mountain capital management, goldman sachs, spinvox,
