Vonage Raises $200 Million in New Round

Vonage Raises $200 Million in New Round

Alan Breznick, Cable/Video Practice Leader, Light Reading

May 10, 2005

1 Min Read
Vonage Raises $200 Million in New Round

If there's one thing that Vonage knows how to do, it's how to raise money. Still the leading player in the voice-over-IP (VoIP) market, Vonage completed a fresh $200 million round of private financing Mon. Bain Capital, New Enterprises Associates, 3i, Meritech Capital Partners, Institutional Venture Partners and Vonage senior management all participated in the financing round. Vonage said it will use the money to accelerate its expansion of service in the U.S., Canada and the U.K. Vonage, which boasts more than 600,000 phone lines in service, has now raised a total of $408 million. The company is adding more than 15,000 lines per week to its network. But such major cable operators as Time Warner Cable and Cablevision Systems are gaining fast on Vonage and may match its customer count by the end of the year.

About the Author(s)

Alan Breznick

Cable/Video Practice Leader, Light Reading

Alan Breznick is a business editor and research analyst who has tracked the cable, broadband and video markets like an over-bred bloodhound for more than 20 years.

As a senior analyst at Light Reading's research arm, Heavy Reading, for six years, Alan authored numerous reports, columns, white papers and case studies, moderated dozens of webinars, and organized and hosted more than 15 -- count 'em --regional conferences on cable, broadband and IPTV technology topics. And all this while maintaining a summer job as an ostrich wrangler.

Before that, he was the founding editor of Light Reading Cable, transforming a monthly newsletter into a daily website. Prior to joining Light Reading, Alan was a broadband analyst for Kinetic Strategies and a contributing analyst for One Touch Intelligence.

He is based in the Toronto area, though is New York born and bred. Just ask, and he will take you on a power-walking tour of Manhattan, pointing out the tourist hotspots and the places that make up his personal timeline: The bench where he smoked his first pipe; the alley where he won his first fist fight. That kind of thing.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like