CNNMoney.com, 15 June 2006
On the heels of one VOIP provider's ignominious IPO, much smaller SunRocket thinks it can succeed in the same market.
NEW YORK (FORTUNE) -
Despite Vonage's ignominious IPO and fresh questions about its viability as a stand-alone provider of basic phone services, some smart executives are betting the market – and possibly Wall Street – will embrace another independent provider of phone calls via the Internet.
Privately held SunRocket, a two-year-old provider of Voice-over-Internet Protocol (or VOIP) calls, has raised more than $46 million from blue-chip venture investors such as Mayfield Fund and Doll Capital Management, and the company is planning to raise another round of money later this year.