On February 16^th, 2007 SpeechCycle, Inc. completed a $10 million private placement with M/C Venture Partners. Raymond James’ Technology & Communications Investment Banking Group advised SpeechCycle on the transaction.

SpeechCycle designs, develops and deploys software applications that leverage speech recognition technology to automate complex technical support calls for digital service providers. Offered via its Software as a Service business model, the company’s LevelOne Automated Agents are designed to automate complex technical support calls for providers of high speed Internet, digital video, and digital phone services. SpeechCycle offers a continuous improvement process that analyzes the call log data, listens to call recordings, transcribes what the caller says, and improves the LevelOne Automated Agents resulting in higher automation rates and an improved customer experience. The company serves cable, broadband and digital phone service providers both in the US and internationally. SpeechCycle was formerly known as Tell-Eureka Corporation and changed its name to SpeechCycle, Inc. in 2006. SpeechCycle, Inc. is based in New York, New York.

M/C Venture Partners is a principal investment firm specializing in early stage investments in emerging segments of the communications sector. The firm prefers to invest in domestic communication services and media and communications related information technology. The Firm is currently investing M/C Venture Partners VI, a $550 million venture capital fund raised in 2006. M/C Venture Partners was founded in 1998 and is headquartered in Boston, Massachusetts with additional offices in San Francisco, California and London.

With the assistance of Raymond James, SpeechCycle secured $10 million of capital in the form of convertible preferred stock. The Company plans to use the capital to expand its management team and salesforce and for new product development.