Tampa, Fla. – (April 2007) – Lovett Miller & Co. is pleased to announce that it has led a $6.5 million Series A venture capital financing with Telovations, Inc., a leading Tampa, Fla.-based provider of IP communications services to small and medium businesses. Other participants in the funding round were existing private. The funding will be used by Telovations to expand its geographic coverage in the Southeast and add new innovative applications.
“As a Florida based company it is strategically important for us to work with investors who understand the southeastern marketplace. We are very pleased to partner with Lovett Miller & Co, one of the Southeast’s leading venture capital firms,” said Telovations President and CEO Rick Schonbrun. “Their extensive experience investing in technology companies coupled with a background in the communications industry will help us to continue to grow our business and expand our network.”
“Telovations has put together a superb team delivering a focused communications solution for Florida based businesses,” said Scott Miller of Lovett Miller & Co. “We are excited to partner with this fast growing company on the forefront of voice technology.”
About Lovett Miller & Co.
Lovett Miller & Co., co-headquartered in Jacksonville and Tampa, Florida, provides growth capital and shareholder liquidity for rapidly growing, privately held companies throughout the United States with a particular emphasis on technology-enhanced service companies and healthcare firms. The Firm invests in a range of financings including (1) growth capital, (2) minority shareholder liquidity transactions, and (3) growth buyouts. Lovett Miller & Co. typically invests $5 to $15 million in equity per company, although it is willing to consider both smaller and larger equity investments. For more information, visit www.lovettmiller.com.
About Telovations, Inc.
Telovations is an intra-office, inter-office and remote voice and data solutions provider. With its redundant, secure and fully managed network built with Cisco products and technology, the company creates a reliable, expandable phone system with instant conference calling, telecommuting, networked locations, etc. Telovations enables clients to get bandwidth, a customized state-of-the-art phone system, professional support and systems management all for one low monthly price. For more information, please visit http://www.telovations.com/