Cross Atlantic invests US$6m in voice firm

18 Aug 2005

Cross Atlantic Capital, a venture capital (VC) firm that began in Ireland and has grown to have more than US$450m under management across several funds, has led a US$6m investment in Princeton, New Jersey-based technology firm Voxware.

Voxware provides solutions for voice-directed logistics that optimise the full spectrum of warehouse operations for greater accuracy, productivity and flexibility.

The US$6m investment round also includes Edison Venture Fund and a number of UK investors made by Nash Fitzwilliams, a London-based investment bank.

Voxware will use proceeds of the financing to expand research and development and expand the company’s sales and marketing efforts.

“Voxware continues to beat expectations,” stated Don Caldwell, Cross Atlantic’s senior partner and Voxware board member. “We couldn’t be more pleased with the company’s progress here in the US, as well as in the UK – it exemplifies our investment strategy.”

Cross Atlantic Capital emerged out of a number of VC firms led by former Cambridge Technology Partners executives. These firms included Crucible, an early-stage VC fund headquartered in Dublin, led by Gerry McRory.

Prior to starting Crucible, McRory was the managing director of Cambridge Technology Partners in Ireland. Prior to that, he started his own software services company, Information Mosaic, and held various senior commercial responsibilities at Capgemini-Hoskyns in Ireland, the UK, and the US. He also worked as an accountant with Coopers and Lybrand in both Ireland and the Cayman Islands.

By John Kennedy