I guess my VOIP service of choice secured its future by raising another 200 Million USD.
Vonage got financing from Bain Capital, with strong participation from existing investors including New Enterprise Associates (NEA), 3i, Meritech Capital Partners, Institutional Venture Partners, and existing investors. This latest round of financing brings total investment in the company to $408 million.
Vonage says that the latest round of financing will be used to accelerate the expansion of service in the United States, Canada and the UK, as well as consider launching new international markets. The financing round will also be used to support the development of new innovative offerings.
I guess Vonage will go IPO pretty soon, although they say they have no plans to do so (Red Herring), but how else would Bain and the others get their money back.
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