Speek, one of the most exciting startups in D.C. tech revolutionizing one of the most unexciting subjects – conference calling – announced closing a $5.1 million Series A round Monday.
The startup raised money from several local high profile investors in the round including Paul Singh’s new Crystal Tech Fund, SocialRadar’s Michael Chasen and WeddingWire’s Timothy Chi, as well as movie star Edward Norton, who’s a huge fan of the service. Other participants in the round were 500 Startups, a prior Speek backer; CNF Investments of Bethesda; D.C.-based Middleland Capital; and the founders of both Crowdrise and Webs.
Now almost two years old, Speek has been able to rapidly grow with the leadership of co-founders John Bracken and Danny Boice. Operated out of the basement of AOL’s Fishbowl Labs in Ashburn, Va., the company has been quite successful and amassed several accolades (named one of Wall Street Journal’s top 20 startups, one of PCMag’s Top 100 Websites of 2013 and one of InTheCapital’s 50onFire 2013) in a short time. Over the past few months, they’ve continued to grow through strategic partnerships with Dell, Microsoft and Blackberry.
This backing will give Speek the needed capital to scale out its new Speek for Teams service, the startup’s main channel of revenue. Specifically, the team will up its sales and marketing efforts.
“The old fashioned phone number and pin conference calling experience is so bad that it is the subject of numerous viral videos and satire,” Bracken said. “Speek has successful re-invented this experience using the latest mobile and web technologies to make conference calling simpler and more productive for customers. Our Speek for Teams service which will make conference calling more personalized to the user and business and allow team members to become more productive via simple collaboration features around your meeting data.”
If you ever have been a party on one of the notoriously terrible free conference call systems, then you should see why Speek is the truth. You can expect to see the small startup grow even more in the next year behind this new funding and bring even more national recognition to itself and the D.C. tech scene.