Fuze (formerly ThinkingPhones) closed $112 million in financing for its global voice, video, and collaboration services.
Fuze is a global, unified communications as a service (UCaaS) platform for enterprises. In 2015, the company grew revenue by more than 100 percent, adding more than 175 new customers and expanding existing customer relationships.
The new funding was led by Summit Partners and joined by existing investors Bessemer Venture Partners (BVP) and Technology Crossover Ventures (TCV). This investment brings the company’s total funding to $200 million. The new capital will be used to expand global operations and to support continued investment in innovation, with a specific focus on simplifying enterprise communications.
“Enterprises of all sizes are benefiting from new business processes and workflows associated with cloud-based communications platforms. This new investment will enable Fuze to expand geographically and accelerate our innovation to address global demand in the UCaaS, video conferencing, and web collaboration markets,” said Steve Kokinos, CEO & Co-Founder, Fuze . “We view Summit as a long-term strategic partner with deep experience scaling growth stage companies in the enterprise software and communications market. Together with our existing investors TCV, BVP, and G20, Summit’s support will help Fuze realize its vision to be the undisputed leader in this growing market. ”
http://www.fuze.com
- ThinkingPhones acquired Fuze in November 2015. In February 2016, it announced a new corporate brand platform officially uniting the companies as Fuze.
- Fuze is headquartered in Cambridge, MA, and has additional locations including New York, San Francisco, Seattle, Ottawa, London, Amsterdam, Aveiro (Portugal), Paris, Zurich, and Copenhagen.
