Telesphere has successfully closed on more than $15 million in additional private equity funding. The funds will be used to continue the company’s market build and acquisition-based expansion plans into multiple new markets by 2010. The round of funding includes participation of current Telesphere investors, including Rally Capital, Hawkeye Investments LLC and Greenspun Corporation. The company was represented in the financing by Snell and Wilmer, LLP.

Telesphere has partnered with industry leaders to develop its IP phone and Internet services offerings aimed at the Hosted VoIP and Managed IP PBX marketplace. Telesphere supports a wide range of IP PBXs, and recently announced it had joined a short list of certified Microsoft Response Point Service Providers, allowing Telesphere to integrate its own unique service features with Microsoft’s Response Point telephone product. Industry experts have estimated the overall market for Hosted VoIP and Managed IP PBX has grown by 52 percent to $24 billion since 2007, and predict strong double-digit growth through at least 2011.

Telesphere’s services provide a smarter and more efficient way of communicating by offering many features integrating business telephony, computing and mobile devices. For example Telesphere offers customers:

• The ability for simultaneous ring of office and cell phones
• Seamless handoff between cell phone and office phone
• Web click-to-dial from computers
• Visual voice mail to email and fax to email
• Telesphere Anywhere that provides customers spread across multiple offices throughout the country, from small business, medium business, and even home business, the ability to function seamlessly as if they were in the same location with four-digit dialing and local calling.