“Ooma provides an affordable and innovative hybrid SaaS solution specifically tailored to meet small business and consumer needs–without the complexity or limitations of traditional phone systems”, Darren Niemann, President of Exccess Venture Fund stated.
St. Charles, IL (PRWEB) October 15, 2015
Exccess Venture Fund I, LLC is pleased to announce one of their portfolio companies, Ooma, Inc., completed their initial public offering on July 17, 2015. The company began trading shares on The New York Stock Exchange under the ticker symbol “OOMA.”
“Ooma provides an affordable and innovative hybrid SaaS solution specifically tailored to meet small business and consumer needs – without the complexity or limitations of traditional phone systems”, Darren Niemann, President of Exccess Venture Fund stated. The company’s flagship consumer device, the Ooma Telo, replaces the standard landline with a revolutionary home phone system loaded with features including free calling in the U.S., unparalleled PureVoice HD voice quality, a free mobile app for calling from anywhere in the world, and more.
Ooma has expanded beyond its core communications service into the connected-home market, as demonstrated with their service integration with the Nest Learning Thermostat and Nest Protect smoke alarm to provide phone call alerts when important events occur in the home.
More recently, Ooma was named one of the fastest growing private companies of 2015 by Silicon Valley Business Journal and San Francisco Business Times. Ooma’s fiscal year 2015 revenue and core user base increased 36 and 34 percent, respectively, in comparison with fiscal year 2014.
About Exccess Ventures
Exccess Ventures, a St. Charles, IL company, is a venture capital firm focused on growth-stage technology companies. Exccess Ventures co-invest growth capital into companies that are backed by leading early-stage venture capital firms.
Remaining portfolio companies in Exccess Venture Fund I, LLC include eASIC Corporation, Magnum Semiconductor and Bloom Energy.
Darren Niemann is the managing partner and can be reached at pr(at)exccessventurefund(dot)com. For more information visit: http://www.exccessventurefund.com
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