March 3, 2014
Today, DC-based Speek announced $5.1 million in Series A funding to help the company develop its online conference calling product, as well as boost its marketing and sales efforts.
The round included $2.7 million in previously raised convertible notes and additional investments from Middleland Capital, CNF Investments, 500 Startups, Michael Chasen (cofounder of Blackboard and founder of SocialRadar), and Timothy Chi (cofounder of Blackboard and WeddingWire) – all of whom contributed to Speek's prior angel round. As part of the round, Middleland Capital's Alexander Pessala will be joining Speek's board. The Series A also included new investments from Edward Norton (the best actor ever), Jeffrey and Robert Wolfe (cofounders of CrowdRise), Haroon and Zeki Mokhtarzada (cofounders of Webs), and Paul Singh's new Crystal Tech Fund.
Speek changes the conference call experience by providing users with a visual conference platform. Rather than starting with the traditional phone number and PIN combination, Speek users can create conference calls with customized URLs (e.g., speek.com/YourName). From there, people can call into the URL and conduct the call through the visual conference platform, where users can get additional info on each call participant (such as links to social media profiles), as well as the ability to share files.
This round of funding brings Speek's funding total to $7.95 million. Prior to this Series A round, the company raised $1.1 million in an angel round that included NextGen Angels and Valhalla Partners.
Speek CTO Danny Boice is a Tech Cocktail contributor.
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