Venture Capital News: Fuze Raises Additional $30M
CAMBRIDGE, MA, Fuze today announced it has closed $30 million in additional capital.
Fuze, the leading cloud-based communications solution provider for the modern global enterprise, today announced it has closed $30 million in additional capital, bringing the company's recent financing round to $134 million. The investment signals Fuze's massive market opportunity as it captures share of the global unified communications market with its cloud platform. The proceeds will be used to accelerate product innovation for Fuze's enterprise customer segment and continue international expansion in Asia Pacific and Latin America. This round brings Fuze's total funding to $334 million.
A global UCaaS platform, Fuze empowers productivity and collaboration across enterprises with modern cloud-based voice, video, and messaging solutions. By seamlessly integrating voice, video, and messaging into a simple, elegant experience, Fuze is designed to power every conversation in today's digital workplace with the enterprise-grade reliability and security that businesses require.
"This additional investment, from one of the top public pension funds in the world, is further validation of the market opportunity for a best-of-breed business cloud communications platform," said Steve Kokinos, Fuze co-founder and Executive Chairman. "We've been building Fuze for more than ten years and over the last 12 months in particular, CIOs at large enterprises are no longer deciding if they should move their communications to the cloud, but when. This is the beginning of the next chapter and I am thrilled to have such a strong group of investors on the team."
In February, Fuze announced $104 million in funding led by Wellington Management Company LLP and appointed cloud networking and security veteran, Colin Doherty, as CEO. More recently, the company added Chris Conry as CIO to oversee IT, business systems, and security, and announced the general availability of Fuze Connect, a full-service technology integration solution that ties together existing lines of business applications with the Fuze platform. The company rounded out the first quarter with Aragon Research ranking Fuze as a Leader in its Aragon Research Globe for Unified Communications and Collaboration, 2017* report.
"With global enterprises beginning their move to cloud communications, we are in a fantastic position to take full advantage of the shift underway," said Colin Doherty, Fuze Chief Executive Officer. "We have built the best global cloud communications platform out there with a seamless user experience across voice, video, messaging, and devices. It now comes down to speed in executing Fuze's next phase of growth given the opportunity in front of us."
*"The Aragon Research Globe for Unified Communications and Collaboration, 2017," Jim Lundy, February 23, 2017.
Fuze is a global, cloud-based unified communications platform that empowers productivity and delivers insights across the enterprise by enabling simplified business voice communications, flexible video conferencing, and always-on collaboration. Formerly ThinkingPhones, Fuze allows the modern, mobile workforce to seamlessly communicate anytime, anywhere, across any device. Headquartered in Cambridge, MA, Fuze has additional locations including New York, San Francisco, Seattle, Ottawa, London, Amsterdam, Aveiro (Portugal), Paris, Munich, Zurich, Madrid, Copenhagen, and Sydney. For more information, visit www.fuze.com.
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