Israeli voice calling app startup Yallo has raised $2.5 million in financing led by Deutsche Telekom Strategic Investments (DTSI), the investment arm of German telecom giant Deutsche Telekom. The financing round also included previous investor Carmel Ventures. The financing comes hard on the heels of a $4 million financing round in March.
Yallo cofounder and CEO Tal Elyashiv said, “We believe that with Deutsche Telecom’s support we will be able to help an even wider community of users benefit from radically richer voice communication experiences."
Based in Tel Aviv, the company was founded in 2012 by Elyashiv and CTO Yosi Taguri.
The app has also launched on iOS after being only available on Android. The app offers free phone calls between users, and charges a fee for phone calls made to non-Yallo members.
Features include default recording of all calls and the options of sharing these recordings with others. Yallo also lets users insert a caption providing the context to the call to help the receiver of the call decide whether to answer or not. The company also offers frequent travelers the option of receiving calls on their regular phone number, providing they have Yallo's app and access to Wi-Fi.
DTSI chairman Vicente Veneto said, “Yallo is paving the way for modern voice communications. The team, their technology, and its unique capabilities can truly revolutionize the industry."
Published by Globes [online], Israel business news - www.globes-online.com - on November 13, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015