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December 28, 2010

Ifbyphone’s $10M infusion includes National Assn. Realtors funds

Chicago, IL – Ifbyphone Inc., a Skokie-based software startup, has raised $10 million from investors that include the venture investment arms of the National Assn. of Realtors.

Ifbyphone, which employs about 40 people, develops Web-based software for call-center and other telecom applications, such as call tracking and automated customer notification.

The company, which has more than 3,000 customers, is profitable, CEO Irv Shapiro says. It will use the additional money to develop products, such as specialized automated-voice applications for real estate and other industries, and hire more staff. He expects to boost headcount to about 70 in the next year.

Founded in 2005, Ifbyphone has netted $18 million in two rounds of fundraising. Investors include the Illinois Innovation Accelerator Fund, or I2A, Chicago-based Apex Venture Partners, Northbrook-based Origin Ventures, Spring Mill Venture Partners of Carmel, Ind. and Cincinnati-based River Cities Capital Funds.

(c) Copyright 2010 John Pletz / Crain Communications, Inc. The orginal article can be found at:

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