New capital, chairman

Ottawa-based iotum, a voice 2.0 company, secures new funding from boutique investment and management consulting firm Verdexus. While saying it would use the financing to fund ongoing operations, the privately-held iotum did not disclose the size of the investment, which was significant enough, however, to secure the appointment of Verdexus general partner iotum.jpgRandall Howard to iotum’s board as chairman. “Randall is recognized as one of the pioneers of the Canadian software industry,” says CEO Alec Saunders. “His decision to join iotum as investor, board member and chairman is a strong endorsement of the iotum vision.” iotum recently launched its Free Conference Calls for Facebook service, which allows users of the social networking website to hold conference calls with groups of friends, family, co-workers or business contacts. “Our investment represents a strong endorsement of iotum and recognition of a fast-growing and potentially dominant player in the mobile presence universe,” says Mr. Howard, “iotum has the potential to be the phone company for social networks, as shown by its strategic launch of the first conference-calling application for Facebook.” A founding partner of Verdexus, Mr. Howard’s extensive board and advisory experience includes work with Necho Systems Corp, Whitehill Technologies, and Waterloo Maple Software.

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