My spin: Vonage continues to be validated. It received another $40 million in venture capital to help it continue operations. I guess the end game is for another company to buy Vonage. OR maybe it’ll do an Amazon and grow and become a sustainable, self sufficient, viable company.
Financial Times: The latest funding brings the total new investment in the New Jersey-based company over the past three months to $75m. It will be used to help fund the expansion of service in the US and abroad, including Canada, the UK, and Switzerland. Vonage has raised $103m in total since it was founded 18 months ago.
Vonage, the broadband phone service provider, yesterday raised an additional $40m in a financing round led by Britain’s 3i group and co-led by Meritech Capital Partners.(full story)
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