iotum finally hits payday with funding from VERDEXUS

By Dave Forde on November 26th, 2007

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The company who has been hailed as the 2006 DemoGod at the annual DEMO Conference is staring to see the tangible results of the team’s hard work over the last few years. An undisclosed amount of financing has been provided to iotum from VERDEXUS, an international, strategic management and financial company, along with the financing, General Partner Randall Howard joins the iotum Board of Directors and has been appointed Chairman of the Board.

“Our investment represents a strong endorsement of iotum and recognition of a fast-growing and potentially dominant player in the mobile presence universe, said Howard, a veteran of Canada’s technology industry as an entrepreneur, executive, consultant and venture capitalist. iotum has the potential to be the phone company for social networks, as shown by its strategic launch of the first conference-calling application for Facebook. The underlying, patent-pending technology foundation and experienced management team make iotum a compelling addition to our portfolio.

iotum is an Ottawa-based developer of voice services for social networks and web services founded in 2003 by Alec Saunders and offers solutions such as iotum Relevence Engine, iotum Talk Now for the Blackberry and iotum Free Conference Calls for Facebook.