Speek raises $5.1 million in Series A

Posted Mar 3, 2014

Speek is a conference calling startup that offers online and mobile tools for making it easier to jump on calls despite the type of device that you have. Speek has raised $5.1 million in Series A funding. This round includes $2.7 million in convertible notes.

Investment in this round include 500 Startups, Edward Norton, CNF Investments, Middleland Capital, Michael Chasen, Timothy Chi, Sonny Ganguly, Jeffrey Wolfe, Robert Wolfe, Haroon Mokhtarzada, and Zeki Mokhtarzada. Alexander Pessala of Middleland will be joining Speek’s board of directors.

Speek was founded in 2012 by CEO John Bracken and CTO Danny Boice. Bracken is also known for working as a co-founder of Evite. The two of them came up with the idea due to annoyances that they found in conference calls used in corporate environments. For example, the PIN numbers can be a major hassle, especially on mobile devices. There is also no visual experience. There annoying beeps when someone joins the call.

Speek makes it easier to join a call by using a personal link for every user. For example, Boice uses speek.com/danny. People connect to Speek using VoIP their web browser. Users enter the call by entering their own phone number to have the service call them. They just have to hit a button to join the call. Speek offers visual indicators to show who is talking like social profiles. There are administrative functions for blocking callers and muting.

Once the call is completed, data and analytics around the call become available. It shows who has attended and how long the call was. It also shows who spoke the most.

Speek’s business model is freemium. Speek Pro costs $10 per month per user. Speek plans to use the funding for adding new features like added security and collaboration features for editing a document. Speek will also expand their marketing and sales teams.

[Source: TechCrunch]