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.