socialmedian: Downturn-Busting Venture Round For iSkoot: $19 Million

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Downturn-Busting Venture Round For iSkoot: $19 Million

Submitted by Magitam from Google Reader

Nov 07, 2008

Summary

One thing’s for sure - the cream rises to the top in a downturn. And San Francisco/Israel based iSkoot, which has built technology that lets mobile users access Skype via normal mobile handsets, look like it’s the cream. The company has raised a third round of financing - $19 million from new investor Vision Opportunity Master Fund. Existing investors Charles River Ventures, Khosla Ventures, Jesselson Capital Corporation and ZG Ventures also participated in the round. Total capital raised by iSkoot is now over $32 million.

iSkoot is best known to U.S. consumers as the company that brought Skype to the Android phone. But their core business to date has been to build technology that lets people use Skype on their mobile handsets in a way that doesn’t threaten carriers and doesn’t overwhelm the handset’s hardware.

iSkoot moves the heavy processing to servers that they or the carrier controls. When a user wants to make a Skype call or chat, they use a thin client on the phone that appears to work the same way as it would on a normal computer. But iSkoot then makes

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