Thursday, 14 December 2017 22:18

Dubber secures $6.5 million from investors for global expansion

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Australian-listed call recording platform provider Dubber says it has received commitments for a $6.5 million capital raising from investors, with the funds to be used to expand business in North America and Europe.

According to Dubber (ASX:DUB) it is seeing strong demand for its services in these markets as the same time a number of strategic agreements with tier one service providers reach anticipated full deployment in calendar 2018.

Settlement of the placement - supported by existing shareholders and institutional  investors -  and issue of new shares is expected around Wednesday, 20 December 2017.

The capital raising will result in the placement of 17,143,572  new fully paid ordinary shares at an issue price  of $0.35 per new share - with a further 1,428,572 subject to shareholder approval under the company’s current placement capacity.

Dubber says that as part of the capital raising  a significant portion was taken by entities managed by James Spenceley,  an Australian telecommunications pioneer and founder of Australia’s fourth largest fixed line telco,  Vocus.

“The  adoption  of  cloud based IP telephony is accelerating globally, a pre-requisite of that successful transition ,”Spenceley said.

"Successful transition is cloud based call recording.  Dubber’s solution is simply world leading and solves a very real problem for telcos and vendors looking to transition their clients to the cloud.  It is exciting to be able to support a home-grown technology business addressing a global market  and validated by some of the world’s biggest telcos and telephony vendors.”    

Dubber has also announced it will be adding additional staffing and strategic account directors as its cloud call recording and intelligence platform is fully integrated into BroadSoft’s BroadCloud Unified Communications delivery platform.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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