Fonality Garners $12,000,000 New Financing

  • Feed Type
  • Date
    9/4/2008
  • Company Name
    Fonality
  • Mailing Address
    200 Corporate Pointe Los Angeles, CA 90230
  • Company Description
    Fonality believes that a sea change is upon us in these transitory telecom waters. As customers migrate toward IP Telephony, the business phone system is becoming another extension of the business computer system.

    This process of standardization requires the PBX to interoperate with existing IT infrastructure, expanding its capabilities and responsibilities exponentially. Fonality intends to become the industry leader of this market transition by making the enterprise PBX both affordable and standards-based for the first time ever.

  • Website
    http://www.fonality.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $12,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The company will use this additional capital to continue expanding its share of the $7B domestic telephony market and take a position in the $25B global telephony market, with a special focus on affordability and mobility for businesses with 5 – 500 people per location.
  • M&A Terms
  • Venture Investor
    Draper Fisher Jurvetson
  • Venture Investor
    Intel Capital

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