[ibimage==40420==Original==none==self==null]
Telnyx, a local telecom startup, has just raised $1 million in funding.
The company's quest for backing was a purposeful one. “We followed a lot of Paul Graham's advice,” said CEO David Casem. Specifically, this involved targeting investors “who were really aligned with what we were trying to achieve. Who, in the long-term, in partnership, could add the most value for us” in areas such as customer introductions, recruiting, and networking nationwide.
“We invested a lot of time in making sure we were getting the right people on board,” said Casem, “as opposed to just going out into the marketplace and saying, 'Hey! We're raising money!'"
“We had a ton of support from Techstars and the greater Chicago tech community out of 1871 this summer,” Casem said. “Big thanks to everyone out there that's helped us thus far.”
The idea for Telnyx arose from Casem's work with call centers. All of the problems he encountered there, Casem said, “fundamentally came down to the carriers. So we solved them by becoming carriers ourselves.”
[ibimage==40419==Medium==none==self==ibimage_align-right]
Telnyx entered the market with a potent catchphrase: 'Big Iron Is Dead.'
“The internet is finally revolutionizing the telecom industry,” said the company's website, “and Telnyx is leading the way. We provide our customers the same reliable service that the behemoth carriers can, but at a fraction of the price. We do it by eliminating the overhead costs that are inherent in large server infrastructures and passing those savings directly to you.”
So what does it plan to do with this new infusion of cash? Casem plans to double revenues in the next 12 months and do plenty of hiring.
"David has been a very entrepreneurial CEO," said Ian Reither, the COO at Telnyx. "He's managed sales knowing the industry, being an expert in the ecosystem. Now that we've hit our stride, we need to start to wrap process around how we acquire customers."
Aside from beefing up its sales team, Telnyx plans to onboard senior back end engineers, network engineers, and customer service associates.
Have a tip for us or know of a company that deserves coverage? Email us via [email protected]
Photo: Shutterstock
