Carnegie Speech Co. Raises $1M in Debt Offering - CTTEC - Carnegie Mellon University

Sunday, November 14, 2010

Carnegie Speech Co. Raises $1M in Debt Offering

According to an SEC filing, Carnegie Speech Company Inc. raised $1.03 million of a targeted $1.10 million in a debt offering.

In September the company raised $75,000 for debt, while a year before it took in $2.2 million in equity funding, as reported by citybizlist.

Carnegie Speech Company develops software for assessing and teaching spoken language skills, drawing upon speech recognition and artificial intelligence technologies licensed from Carnegie Mellon University. The company's products are used by business, aviation, government, education and health care enterprises.

Named in the filing were Dr. Jaime Carbonell, chairman and founder; Angela Kennedy, president & CEO; Robert Turner, chief operating officer; Dr. Maxine Eskenazi, vice president, chief technology officer and founder; John Lucke, vice president, marketing; Gary Pelton, vice president, product development; Melanie M. Shivetts, vice president, finance and operations; and directors Chuck Dietrick, Birchmere Ventures; Dr. Edgar C. Harrell, Harrell Partners, LLC; Nathanael V. Lentz, Osage Partners; and Loretta McCarthy, McCarthy Group LLC and Golden Seeds.

On its website Carnegie Speech lists as investors the following: InQTel, Osage Ventures ,Golden Seeds Active Angel Investors, Mid-Atlantic Angel Group, Lore Associates, Innovation Works, Carnegie Mellon Angel Investor Forum, North Texas Angel Network, and Wisconsin Investment Partners.

Dr. Carbonell is Carnegie Mellon University's Chaired Allen Newell Professor of Computer Science and Director of Carnegie Mellon's Language Technologies Institute (LTI). His previous business ventures include the creation, IPO and sale of the Carnegie Group, Inc., a software-consulting corporation. He also previously served as an advisor to Lycos and currently serves on advisory boards of Vivisimo, Meaningful Machines, 3Ksoft USA, and Dynamix.

Angela Kennedy founded WISDOM Technologies Corporation and served as its President and CEO. She also had sales and marketing experience with IBM and software development management experience with the Lead Artificial Intelligence Group at Westinghouse Electric Corporation.

Article Courtesy of Citybizlist