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Vonage Closes $105M Financing Round

8/25/2004 3:38 AM Eastern

Vonage Holdings Corp. said Wednesday that it has completed a $105 million series-D financing round.

New Enterprise Associates led the round, along with 3i Group, Meritech Capital Partners and existing investors.

The closure of this round brings total investment in the voice-over-Internet-protocol provider to $208 million.

"Voice delivery over the Internet has reached an inflection point and is rapidly displacing legacy phone service," NEA managing general partner Peter Barris said in a prepared statement. "Vonage has emerged as the clear market leader, and we are thrilled to be able to support their future growth plans."

Vonage currently has more than 240,000 lines in service, and it continues to add more than 25,000 per month.

 

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