Austin-based Telestax Lands $4.7 Million in VC Funding

Telestax announced this week it has raised $4.7 million in funding.

Austin-based LiveOak Venture Partners led the funding round. The company plans to use the money on product development, customer support and marketing.

“We are thrilled to bring Telestax into our portfolio of promising companies. The exceptional team, high-value technology and resulting customer adoption of Telestax’s offerings made this a compelling investment for us,” Krishna Srinivasan, General Partner at LiveOak Venture Partners, said in a news release. “We look forward to helping Telestax with their market and product expansion.”

The Austin-based company makes a communications platform called RestcommOne, which blends telecommunications applications with enterprise applications to “deliver real-time communications business solutions that scale,” according to a news release.

Telestax, which launched its RestcommOne platform in 2011, has more than 170 commercial customers including Avaya, MetTel, Ping An Bank, T-Mobile, Unifonic and NTT-AT. The platform supports 900 million calls daily and 200 million messages.

“The last 12 months have been remarkable for Telestax,” Ivelin Ivanov, Telestax CEO and co-founder, said in a news release. “We launched RestcommONE, our CPaaS enablement platform, and our RestcommONE Marketplace; and today we have added another business partner with strong proven expertise in telecom and infrastructure software”.

Telestax, founded in 2011, has raised $5.9 million in two rounds to date, according to its Crunchbase profile.

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