Tel Aviv-based B2C communications provider Yallo has raised $4 million in Series A funding. Carmel Ventures led the round. In conjunction with the funding, Shlomo Dovrat, a co-founder and general partner at Carmel, has been added to Yallo’s board of directors.
PRESS RELEASE
New York, New York / Tel Aviv, Israel – March 10, 2015 –Yallo, a company reinventing the mobile phone call experience, announced today the closing of $4 million in Series A funding, led by Carmel Ventures, a member of the Viola Group. Shlomo Dovrat, Co-Founder and General Partner at Carmel led the investment and has joined the Company’s board of directors.
Yallo is a B2C communications provider that will make you fall in love with the phone call again. Yallo stands for awesome conversations that are more effective, more social, and more fun than the phone calls we knew until now.
By putting personal customer identity, rich functional capabilities and technological flexibility at the core of its platform, the company is creating the next generation of communication experiences and spearheading a new era of consumer focused innovation.
The company was founded in 2012 by Tal Elyashiv and Yosi Taguri and currently has 15 employees at its headquarters in Tel Aviv, Israel.
Tal Elyashiv, CEO of Yallo: “Having spent over two years building out the infrastructure and capabilities enabling our product roadmap and long-term vision, as well as some promising initialtest releases, we’re thrilled to join forces with one of Israel’s premier VCs as we take our next steps forward. We believe the world is ready for a new category of communication experiences that is rich, personal and adaptive to the changing ways in which we live, work and play.”
Shlomo Dovrat, Co-Founder and General Partner at Carmel Ventures added: “Carmel is one of the earliest investors in the mobile technologies space in Israel, and has been investing in this sector since 2000. We are excited to partner with the Yallo team on their journey as they aim to transform the communications experience, bringing new innovative consumer applications to an industry poised for disruption.”
Yosi Taguri, CTO of Yallo added: “Before Yallo, the phone call was a vestige of the past, failing to keep up with the way we communicate today: in groups; with messaging that lets us get someone’s attention even when they’re busy; with precision; with fun and personalization. Yallo makes all that possible. It is turning the phone call into a platform for entertainment, personalization, organization, storage, and a tool for radical efficiency.“
About Yallo
Yallo, founded in 2012 by Tal Elyashiv and Yosi Taguri, is reinventing the mobile phone experience. Yallo transforms the phone call from the inside out. Once a user downloads Yallo, they can do things like easily record, search and replay calls, reach people even when they are on another call, tag calls, own multiple numbers, never lose a call when they are temporarily out of reception, receive calls on devices of their choice, and much more.
Yallo has existing customers worldwide and is about to release it’s next generation product line. For an early bird registration and 3 free months subscription, visit www.yallo.com
About Carmel Ventures
Founded in 2000, Carmel Ventures is managing over $800M across four funds. As Israel’s top tier VC firm, Carmel invests in Israeli or Israeli-related early stage companies and builds global categoryleaders across a number of key market segments, including: software, new enterprise infrastructure, Big Data, digital media, consumer applications and semiconductors. For more information, please visit www.carmelventures.com. Carmel is a member of the Viola Group, Israel’s premier technology-focused Private Equity group with over $2B under management.
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