TelStar Hosted Services, Inc., completed its latest equity round on April 27th. The round closed at nearly $650,000, from a mix of prior and new investors. Initially, Telstar planned to raise $500,000 but seeing the strong investor interest, it oversubscribed the offering by nearly 30 percent. The top officials from Telstar said that additional equity will be used to escalate company’s plans to expand its sales and marketing initiatives.

"I'm pleased to note that, in this round, we attracted new investors as well as received additional investment from our previous investors, which indicates their confidence in our ability to grow profitably," remarked CEO James P. Dunn, in a statement.

"Our original investor group remains 100% committed and excited about our progress and plans. This raise, along with the completion of a debt financing package with Square 1 Bank earlier this year, provides needed capital to fuel growth," noted Ralph Peluso, CFO and COO of TelStar Hosted.

A leading provider of hosted call center software including automated voice messaging, TelStar Hosted Services allow clients to trade capital expenditures for operating expenses, and stay focused on their core business. Its feature rich, industry proven call center services can be deployed quickly and is affordabe across a distributed workforce. Housed in a world-class, SAS70 Type II compliant, secure data center, Telstar’s affordable, scalable, flexible, stable and reliable IT Services are delivered by our service-oriented, highly professional team.

The company was recently selected by the Mid-Atlantic Venture Association (MAVA) to present at its annual Capital Connection event May 12-13 at the J.W. Marriott Hotel, Washington, D.C. MAVA’s team of seasoned investors and advisors selected TelStar Hosted Services, Inc., from hundreds of qualified applicants based on a rigorous evaluation of the quality of TelStar Hosted’s service solution, the management team, technical and domain expertise, potential market growth and other criteria.