SpinVox’s New Finance In Excess Of £15 Million

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An update to Monday’s story, when we revealed under-fire voice-to-text firm SpinVox has raised yet more new funds… the amount has now been confirmed to us by the company at “in excess of £15 million“. That’s in addition to the circa $200 million the company has raised since 2003.

Still no confirmation of investors’ identities beyond “existing backers”. The $100 million March 2008 round came from GLG (SEO: 066570) Partners, Goldman Sachs, BlueMountain and Toscafund Asset Management. Previous private investments came from Martin Hughes, Carphone Warehouse CEO Charles Dunstone, eSure founder Peter Woodplus institutional investors including ABN Amro, Gartmore and Allen & Co.

The cash coincided with staff, some of whom had become alarmed about late salaries and overdue expenses, being paid within a programmed six-day-late window on Friday, as well as with complaints and reported legal threats from several SpinVox suppliers.

CEO Christina Domecq, in a two-part interview with paidContent:UK in July, said company finances have been pressured by its suppliers paying it late and by the demands of strong growth following Latin America client wins that will make SpinVox cashflow-positive within 90 days.

In its latest effort to counter claims about the extent to which its voicemail transcription is carried out by humans rather than machines, SpinVox invited bloggers to its Marlow HQ for a technology demo on Tuesday.

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