Wellington Financial, a privately-held specialty finance firm, has provided USD5.5m in debt financing for IXC (dba Telekenex) based in Seattle, Washington and San Francisco.

The financing provides Telekenex with capital to continue its growth and penetration in the managed voice and data services market.

Telekenex's primary venture capital investors include Walden Venture Capital, Altos Ventures and Industry Ventures, all of northern California.

"There is no doubt that Telekenex has become a formidable force in the managed services industry. Their enhanced voice/data solutions improve employee productivity and achieve a positive customer experience," says Eric Speer, vice president at Wellington Financial USA's Santa Monica, California office. "They are adding new customers quickly and we are pleased that our capital can allow them to continue their current growth momentum."

Telekenex is a business-grade IP service provider with a private international IP network. Solutions include Managed Ethernet, SIP Trunking, Private MPLS + Internet, Managed Data Center and a full suite of IP telephony solutions.

"Wellington Financial quickly grasped a clear understanding of our business allowing for a smoothly executed due diligence process and well-timed close," says Brandon Chaney, chief executive for Telekenex. "Wellington Financial is a key partnership for us to help execute on our growth strategy that includes acquiring smaller non facilities-based resellers."

Cooley and DLA Piper provided legal advice on this transaction.