Closes First Planned Tranche of $500,000
Online, September 1, 2015 (Newswire.com) - INDIALANTIC, Fla.--FracTEL, (www.fractel.net), the pioneering provider of next-generation, cloud-based telecommunications systems, today announced it has signed a $3,000,000 convertible debt financing with a Chicago, IL investment bank. FracTEL also said it has closed on the first planned funding of $500,000, in a series of scheduled tranches under the offering.
The funds will be used to drive FracTEL's growth through a state-of-the-art, high-velocity inside sales and inbound marketing campaign for its patented, feature-based Cloud PBX system and service.
FracTEL's enterprise-level scalability, reliability, security, and savings are unmatched in the telecom industry. Additionally, its patented core technology supports a singular capability for hyperscale deployment of cloud-based business PBX services and enables custom, business-transformative 'Tele-apps' through the rapid integration of its telecommunications platform with other IT systems.
"The FracTEL team has been working diligently to develop a very aggressive customer acquisition strategy that leverages the latest marketing and sales techniques. This funding will allow us to execute on that plan. It is gratifying to have investors that share our vision and recognize our potential for rapid growth by meeting customer needs in a market that is overdue for innovation," said Michael Crown, founder and President.
ABOUT FRACTEL
FracTEL is the pioneering provider of next-generation "Integrated Communications" systems that are transforming businesses by offering an unprecedented full integration of telecommunications with other information technologies. Its patented, feature-based Cloud PBX architecture also delivers unmatched reliability, scalability, security and savings.
For more information:
FracTEL, LLC
122 4th Ave., Ste. 201
Indialantic, FL 32903
info@fractel.net
Phone: 855-FRACTEL
Source URL: http://businesswire.com/news/home/20150901006083/en/FracTEL-Signs-3-Million-Convertible-Debt-Financing
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