Octave Sings $17M NoteOctave Sings $17M Note

Videoconferencing isn't the only remote-meetings technology attracting increased interest these days. The buzz around audioconferencing is also getting louder.

Audioconference systems provider Octave Communications last week secured $17 million in a fourth round of funding led by new investor ABS Capital, which was joined by previous backers Bessemer Venture Partners, Pilot House Ventures Group, and St. Paul Venture Capital.

Octave says inquiries about its offerings have increased significantly since the Sept. 11 attacks.

The Nashua, N.H., vendor will use the money to expand into the nascent field of wireless audioconferencing. Octave will add the wireless capabilities to its land-line-oriented Meet-About offerings.

The company has received positive feedback from wireless carriers on prototypes of products that let them offer instant group conference calls, says Ron Elwell, president and CEO.

The new products will let Octave subscribers set up audio conferences by pushing a button to connect a variety of wired and wireless devices, including cell phones, handhelds, PCs, and conventional telephones, via either the regular phone network or the Internet.