About Newstep Networks
Newstep Networks is a company based in Toronto (Canada) founded in 2003 was acquired by Broadview Networks in June 2009.. Newstep Networks has raised $9.5 million across 1 funding round from investors including Broadview Networks. Newstep Networks operates in a competitive market with competitors including Dialpad, RingCentral, Skype, Fuze and Simpplr, among others.
- Headquarter Toronto, Canada
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Sectors
Telecommunications
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$9.5 M (USD)
in 1 rounds
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Latest Funding Round
$9.5 M (USD), Series C
Jan 28, 2008
- Investors
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Employee Count
Employee Count
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Acquired by
Broadview Networks
(Jun 08, 2009)
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Funding Insights of Newstep Networks
Newstep Networks has successfully raised a total of $9.5M through 1 strategic funding round. The most recent funding activity was a Series C round of $9.5 million completed in January 2008. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series C — $9.5M
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First Round
First Round
(28 Jan 2008)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2008 | Amount | Series C - Newstep Networks | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Newstep Networks
Newstep Networks has secured backing from 1 investor. Prominent investors backing the company include Broadview Networks. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Business telecommunication services including VoIP and cloud systems are provided.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Newstep Networks
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Newstep Networks
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Newstep Networks Comparisons
Competitors of Newstep Networks
Newstep Networks operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Dialpad, RingCentral, Skype, Fuze and Simpplr, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based unified communication solutions including voice and video are provided.
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| domain | founded_year | HQ Location |
Cloud-based unified communication solutions are offered to diverse sectors.
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| domain | founded_year | HQ Location |
VoIP software for internet video chats and calls is offered.
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| domain | founded_year | HQ Location |
Fuze, under 8x8, Inc., is recognized for providing cloud-based communication and customer experience solutions.
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| domain | founded_year | HQ Location |
An AI platform is utilized for connecting employees across organizations.
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| domain | founded_year | HQ Location |
SoftSwitch and VOIP solutions are provided for cloud-based communication networks.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Newstep Networks
When was Newstep Networks founded?
Newstep Networks was founded in 2003 and raised its 1st funding round 5 years after it was founded.
Where is Newstep Networks located?
Newstep Networks is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Is Newstep Networks a funded company?
Newstep Networks is a funded company, having raised a total of $9.5M across 1 funding round to date. The company's 1st funding round was a Series C of $9.5M, raised on Jan 28, 2008.
What does Newstep Networks do?
NewStep Networks was founded in 2003 in Toronto, Canada, and operates in the telecommunications sector. Software solutions for fixed-mobile convergence are delivered to network operators. Traditional voice networks are leveraged through these solutions to develop service bundles that incorporate voice and data features from wireline, wireless, IP, and VoIP networks. Financial sustainability is supported for service providers in creating differentiated offerings.
Who are the top competitors of Newstep Networks?
Newstep Networks's top competitors include Agora, Dialpad and RingCentral.
Who are Newstep Networks's investors?
Newstep Networks has 1 investor. Key investors include Broadview Networks.