Monday, July 16, 2007

BroadSoft Secures $10 Million for VoIP Application Software

BroadSoft has raised $10 million in mezzanine equity financing from Meritech Capital Partners for its VoIP application software. This funding round brings BroadSoft's total venture capital investments to date to approximately $72.5 million.

BroadSoft plans to use the funding for corporate purposes, including financing the continued growth of its operations and its expansion of market share in fast-growing regions, including Latin America, Eastern Europe and Southeast Asia.

In recent months, BroadSoft has announced a number of major customer wins, including Cox Business Services, which has chosen the BroadWorks platform to deliver hosted voice services to small and medium businesses; KPN, which has chosen the BroadWorks platform to migrate its network from traditional landlines to an IP network; Siminn, the incumbent in Iceland; and Telekom Slovenije, Slovenia's incumbent.

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