Voice Marketer Vontoo Raises $2 Million
Voice-marketing company Vontoo has secured $2 million in a second-round financing led by EDF Ventures. The Indianapolis-based startup will use the funds to expand sales, marketing and business development staff with the goal of tripling revenue and doubling staff to 50 in 2009.
Vontoo's technology allows companies to send and track marketing voicemail messages targeted to a particular audience. The system can also be used to send notifications and alerts, and integrate voice communications into a company's existing software applications.
Among Vontoo's highest-profile clients to date have been sports franchises such as the Cleveland Browns and Memphis Grizzlies, which have used its voice-messaging services to drive ticket sales.
The company recently said its voice-marketing tools comply with a new Federal Trade Commission rule requiring telemarketers to provide consumers with an opt-out mechanism such as a key press at the start of all automated messages.
Vontoo said its system was designed to allow someone to opt out at any time during a call. But the FTC rule--effective since Dec. 1-- specifically requires the opt-out message to play at the start of sales and solicitation calls, and that messages left on voicemail systems or answering machines provide a toll-free phone number to prevent further calls.
Roughly three-quarters of the company's latest investment round came from existing investors. New investors include Gregg Throgmartin, a shareholder in appliance retailer H.H. Gregg. His investment followed the company's use of Vontoo's services. Vontoo initially raised $1.8 million a year ago.
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