Cloud-based telecommunications platform company YouMail has raised $5.5 million in a Series B round of funding. This means YouMail has raised over $20 million in debt and equity.
YouMail plans to use this round of funding to expand its base of more than 6.5 million registered users. The investors in this round are unknown.
What does YouMail do? The company provides a digital personal assistant that helps users better manage incoming phone calls.
When users download the YouMail app, it replaces their existing smart phone visual voicemail. And then YouMail’s service improves its user’s caller care, privacy, and productivity through features like visual caller ID, automated caller blocking, personalized smart greetings, automatic replies, cloud storage, etc. YouMail is available for the desktop, iOS, Android, and Windows Phone.
YouMail raised its latest funding in February as private placement by taking advantage of the federal Jumpstart Our Business Startups (JOBS) Act. The JOBS Act removed the ban on general solicitation and general advertising in private placements, which allowed YouMail to market its offering through the Internet and open webcasts.
The private placement was managed by Digital Offering, a technology-driven merchant bank. And it included a mix of institutional investors, family offices, and private investors.
