12/19/2005

Vonage Raises $250M

Filed under: — By Aviran Mordo @ 1:05 pm

Vonage Holdings received $250 million in convertible debt funding Monday, led by Bain Capital, bringing the VoIP provider’s total funding to $658 million.

Also participating in the funding were existing investors New Enterprise Associates, Meritech Capital Partners, and senior management, with a total of 16 new investors.

Vonage plans to use the money to further build its network around the United States, as well as deploy enhanced 911 services to provide emergency-calling capability to customers.

Source: redherring

 

One Response to “Vonage Raises $250M”

  1. Jonty Says:

    When asked Rego said it will be spent on working capital, building out its network and e911 deployment. As for the IPO, Rego said the company doesn’t talk about future funding. “We do what we do. This is a good transaction for us,” he said,

    Yes, it was a good transactin for him or Vonage… Filling up the spacecraft before its going to fly away. Vonage is busy improving the books to find a buyer or if it does an IPO as promised in last few rounds. We have too covered the story in our blog - http://www.voipcentral.org/entry/fresh-funds-for-vonage-where-is-the-company-headed/

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