 |
 |
 |
|
 |
|
| Vonage |
|
|
|
| Business description: |
| Telecoms |
|
|
|
| Country: |
| US |
|
|
|
| Investment type: |
|
Venture capital
|
|
|
|
In February 2004, 3i co-led a $40 million late-stage technology venture funding round in Vonage, a leading provider of broadband “voice-over internet protocol” (VoIP) telephony services, based in New Jersey. The funding, of which 3i contributed $12 million, will be used to accelerate the expansion of Vonage’s service in North America and Europe and to support development of new innovative offerings.
The broadband telephony market is projected to expand rapidly over the next decade, due to its significant price advantages and superior functionality over the use of traditional circuit-switched telephone lines.
3i’s knowledge of the global communications market and ability to help accelerate the company’s international expansion through its network of offices were critical to 3i’s ability to secure the opportunity. Since making the investment, 3i has introduced the company to a number of potential customers and partners in the US, Europe and Asia.
Vonage has seen a significant acceleration of its business in recent months and, by May 2004, had surpassed 150,000 subscribers in the US. |
|
|
|
 |
|
 |
|
