Sunday, December 18, 2005

Vonage Raises $250 Million

Vonage raised $250 million in convertible debt funding with a group of investors led by affiliates of Bain Capital, with participation from leading financial institutions and existing investors including New Enterprise Associates (NEA) and Meritech Capital Partners. The latest round of financing brings total investment in the company to $658 million.

Vonage said it plans to use the money for general working capital to build-out its network across the United States, including deployment of Enhanced 911. Vonage senior management also participated in the round.