June 3, 2009

XCast Labs Closes $2.7M Preferred Round A Financing

XCast Labs a global provider of SaaS digital voice and video solutions, today announced that Siemer and Associates, LLC (www.siemerassoc.com) has invested in XCast Labs’ as part of a $2.7M Preferred Round A financing.

“We are indeed positive about the rapid growth of XCast Labs, fueled by its leading intellectual property and experienced management team,” said David Siemer, CEO, Siemer & Associates. “In addition, XCast is well positioned to lead the change of how unified communications is utilized in numerous market segments.”

Siemer’s investment closes out a $2.7M Series A round of financing for the company. Other investors in this round include Frontera Capital (www.fronteracapital.com), members of the Pasadena Angels (www.pasadenaangels.com) and company co-founder and CEO, Cliff Rees.

“Unlike some other voice-over-IP (VoIP) providers who are struggling to stay afloat, XCast Labs truly stands alone in regard to its financial stability, service quality, support, functionality and cost,” said XCast Labs co-founder and CEO, Cliff Rees.

“This round of funding will enable us to achieve profitability by Q1 of 2010; as we developed and own all the core aspects of our technology, we have a much lower cost basis than any other provider.”

Unique to XCast Labs, is its patented Digital Voice & Video platform that delivers a wide variety of fully integrated, reliable and scalable services at much lower costs than competition. The Company’s veteran engineering team designed and developed every aspect of the core technology in-house, which can be used for first-line replacement service for residential and small office customers, as well as for the most feature-rich IP-PBX and SIP Trunking services for small and medium businesses.

According to Dr. Robert Pourziaee, CEO of RPM, LLLC, a multi-facility medical group and current XCast Labs customer, “We have multiple clinics in Nevada and California. XCast's IP-PBX allowed us to tie all these, plus ours in, together into one, easy-to-manage phone system. We only get a single bill now, instead of multiple ones at each location. And we never have to pay a technician to come out and do moves, adds or changes – we just call XCast and it's done within a few hours.”

He continued, “The CallBlast feature is a huge money-saver for us compared to what we used to pay AT&T for call forwarding. And being able to dial any doctor, anywhere, with just a 3-digit extension is great!"

To-date, XCast Labs is working with several well-known carriers, enterprises, cable operators and broadband service providers, including Avenue Broadband, MirrorTel, Sea Mobile, Greenfield Communications, RPM LLC, UseeIsee and Telescope.

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