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Spinvox May Need More Finance In Line With Planned Growth

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UK mobile voice-to-SMS provider Spinvox recently won business with Telefonica (NYSE: TEF) in Latin America. It’s easily its biggest carrier deal so far. Any more like that, though, the company may need new growth finance…

“You’ve got to remember that if I get another two or three deals like this — which will inevitably happen in the next few months — I’m going to have to scale up my business to support that,” co-founder Daniel Doulton told me.

“The nature of the beast is that you have forward-invest to support that.” The company’s $100 million second round funding last March was one of the biggest European VC deals of 2008. Doulton says Spinvox is fine for now, but will “probably” need more cash sometime soon — it all depends on how fast it grows in next nine months. For more, see our sister site

3 Responses to “Spinvox May Need More Finance In Line With Planned Growth”

  1. Patrick Smith

    Jim, in fairness to Spinvox, its system uses complex, automated voice recognition technology, not call centres, as far I know. If there were people typing up every single message they would need a lot more than 350 staff…