VoiceBox Seeks $15 Million In Fourth Round To Expand Into Asian, European Markets

VoiceBox Technologies

Bellevue, Wash.-based VoiceBox Technologies, which has developed a voice-search technology that they say allows you to speak in a conversational tone, is looking to raise a fourth round of capital and has confirmed it has raised a third round worth $13 million last year. To date, the company has raised $21 million.

Victor Melfi, the company’s Chief Strategy Officer and SVP Marketing, confirmed the third round after documents were filed this week with the SEC. He said the round was raised last year from strategic investors in Asia to fuel its international expansion. Investors included: AutoNavi, a digital map database company in China, MiTAC, which acquired the assets of Magellan’s consumer GPS division in 2009, and Inventec, a cellphone and portable navigation manufacturer.

The company is now seeking a $15 million fourth round of capital that will be used for growth opportunities among current customers and expanding further into Asia and Europe. It has hired Cascadia Capital to help with the institutional round. Melfi: “Our markets are global and the size of the mobile market in China and the nascent nature of the mobile market there gives us some real first-mover advantage, especially with AutoNavi, which has singular access to Chinese maps other than the government.”

VoiceBox’s voice recognition technology is currently shipping in some Toyota cars to navigate the stereo using voice; in a high-end Pioneer in-dash entertainment system; in Magellan portable navigation devices; and in an iPhone app. It is also has partnerships with Renault and others.

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