European private equity firm Vitruvian Partners has acquired a majority stake in Voxbone SA, a cloud-based provider of international voice over internet protocol (VoIP) services delivering communications solutions for enterprises worldwide.
With Vitruvian’s backing, Brussels-headquartered Voxbone will look to drive its next phase of growth as it further strengthens its position as a unique player in the rapidly growing cloud communications market. The Company is the global market leader in providing geographical, mobile and toll-free numbers (Direct Inward Dialling or “DID”) and associated network capacity for enterprise customers routing and enabling the receipt of calls, messages and data communications over IP worldwide. Voxbone helps its customers extend their international reach in a low cost and efficient manner. Typical customers include cloud communication providers, contact centres, conference call providers and global telecommunications operators.
“Global telecommunications are evolving fast: from legacy fixed line telephony to more cost effective and flexible IP-based applications,” says Voxbone Chief Executive Officer Itay Rosenfeld (pictured). “Voxbone is in a unique position in this market because we are the bridge between the worlds of telecom and software. With Vitruvian’s support, we will continue to grow strongly by bringing new services to the global software development community.”
Founded in 2005, Voxbone has a track record of significant year on year growth, with revenues growing c.29% per year to date, and profitability at significantly higher rates. The Company has also seen a strong increase in customers, with significant success in adding blue chip global customers, and high growth innovative disruptors, such as Skype, Voxeet and BlueJeans. Voxbone is still in the early phases of benefitting from its growth strategy, having created a global and scalable infrastructure in an expanding and still underpenetrated market.
Vitruvian was selected as the preferred partner to Voxbone due to its position as a growth-orientated international sponsor, its sector expertise, and its close relationship with senior management, who were instrumental in selecting their partner for the future.
Commenting on the deal, Senior Partner David Nahama from Vitruvian, says: “Voxbone’s global infrastructure and proprietary state-of-the-art software mean that the Company is uniquely positioned to benefit from the global migration of business communications to the cloud. We look forward to working with Voxbone’s management as they strengthen their market leadership and drive forward exciting growth opportunities.”
Rosenfeld adds: “For us, telephony is just the beginning. We see huge potential for organic, acquisitive and strategic partnership growth as we rapidly expand our service offering and our global footprint.
“We are very excited to have gained, in Vitruvian, a partner who understands the vast addressable market available to Voxbone and is committed to supporting our continued growth and international expansion. We now have the ideal springboard for the next stage on our journey.”
