telSPACE Raises Growth Capital

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telSPACE, a turnkey MVNO operations provider, acquires new financial backers and raises $1 Million in Growth Funding.

telSPACE, developer of the telecom industry’s first turnkey operating platform for virtual network operators, announced today that it has acquired new financial backers and raised growth capital. With technology development complete and profitability reached, the company will use the additional funds to expand its sales efforts nationally and internationally. The new capital was raised through a Series A placement totaling $1 million.

“The new funding will allow the company to compete with the larger billing platforms and allow the company to expand its operations outside the US.” said Cody Hershey, telSPACE’s CFO. “We are grateful for the opportunity to move to the next level of our growth cycle and 2006 is going to be a very exciting year for the company.”

“telSPACE had a great vision and executed on their vision with no investment capital prior to our involvement,” commented Geoff Lands, lead investor for the Series A round. “Their proprietary technology, which basically empowers any company to become an MVNO (mobile virtual network operator), has tremendous potential to capitalize on the MVNO trend that has hit the states.”

To become a successful VNO (virtual network operator) using telSPACE’s turnkey platform, a company need only have access to customers and a marketable brand name. telSPACE then provides all functionality needed to acquire, activate, manage, and bill customers; and it provides a very sophisticated and intuitive customer web site where end user customers or distributors are led through the entire service selection and activation process. The economies of scale telSPACE achieves through aggregating the traffic volume of all its customers and pooling back office resources allows telSPACE to establish aggressive wholesale pricing with carriers.

“I am very impressed with the scope of the telSPACE technology,” said Jay Powers, Chairman and CEO of Ignition Wireless who just launched their MVNO business using telSPACE as their back office solution. “We allowed telSPACE autonomy on the development of our brand image as well as full control of our back office. Using telSPACE’s back office technology, we can instantly expand our service offerings to include wireless without buying equipment or having to become communications experts. This allows us to spend our resources on sales and marketing, which is what we do best.”

About telSPACE

Based in Redmond, Washington, telSPACE enables its clients using a world class back office infrastructure to sell, provision, fulfill, and care for multiple telecom services including Pre and Post Paid Cellular, Internet, and Long Distance using one ubiquitous private label operating platform. In development for over 5 years, the company has used its clients input to refine its product and create a platform that provides core functionality that rivals any in its class. For more information you can go to http://www.telSPACE.com.

About Ignition Wireless

Based in Southern California, Ignition Wireless sells directly to the retail dealer market and focuses on quality and customer service as its market differentiator. Ignition focus on offering quality phones with higher profit margins to its distributors. The company has been around for over 8 years and thanks to telSPACE has an incredibly efficient back office.

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Joe Griffin

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