Fuze (formerly ThinkingPhones), a start-up based in Cambridge, Mass., closed $104 million in venture funding for its cloud-based communication solutions.
Fuze is a global, unified communications as a service (UCaaS) platform for enterprises. In 2016, Fuze grew sales by 90 percent, adding 449 new customers, including The National Geographic Society, The Rockport Group, Socotec, and John Paul with 36 percent of business coming from outside of North America. Its top ten deals of 2016 represented a combined $71 million in contract value, solidifying Fuze’s position as the leading UCaaS platform for global enterprises.
“Over 2016, we experienced tremendous growth in deal size among the large enterprise segment, with CIOs and IT leaders adopting Fuze’s unified communications platform as a central part of their strategy to drive digital transformation in their organizations,” said Steve Kokinos, Fuze Founder and CEO. “This latest round of investment advances Fuze’s aggressive pursuit of the market for our cloud-based business communications platform, accelerates geographic expansion to service our large global customers, and fuels product innovation in ways that align with our long-term growth strategy.”
The funding was led by Wellington Management Company LLP and joined by Greenspring Associates and existing investors Summit Partners, Bessemer Venture Partners (BVP), and G20. Total funding to date has reached $304 million.
