ShopTalk announced Monday that it has raised a $12 million third round of funding, led by Venture Strategy Partners. Rocket Ventures and previous investors Bay Partners, KB Partners, Maveron Equity Partners, Staenberg Private Capital and Dakota Capital Partners also contributed to the round. Chicago, Ill.-based ShopTalk has raised a total of $40 million and expects this latest round will carry the company to profitability.
ShopTalk has recently changed its business. It previously allowed consumers to call into their telephone service and use their voices to navigate through options to learn of discounts and promotions offered by other companies. ShopTalk has since switched its focus to licensing its voice software to companies that want to use it for call centers. The company also recently named Michael Franz chief executive. Franz, who last served as chief executive of Hot Office.com, has also previously worked as president of Sprint Business, a division of telecommunications carrier Sprint.
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