FaceTime seals $16m funding round

Enterprise IM specialist FaceTime has secured a $16m round of venture capital funding to push on with its compliance-friendly brand of instant messaging solutions.

The funding brings the total raised by FaceTime to $30m since July 2001.

The oversubscribed round of funding was led by JK&B Capital. Existing investors, including BA Venture Partners, Sutter Hill Ventures and TH Lee Putnam Ventures also took part.

Kailash Ambwani, president and CEO of FaceTime, said: "FaceTime has seen tremendous momentum during the past two years. From our customer acquisitions to solid execution and international expansion, FaceTime continues to attract the support of new and existing investors."

Tom Neustaetter, partner at JK&B Capital, said the current clamour to be involved in IM security in the wake of compliance changes and heightened awareness of the messaging security risk, meant his company had been looking for an in road into the market "for some time".

Neustaetter now finds himself on the FaceTime board following the funding round, along with representatives of the company's other investors.