ThinkingPhones rebrands as Fuze and closes $112m in funding to power European expansion
US-based communications provider ThinkingPhones is no more. The startup has rebranded as Fuze and close $112m (£77.6m) in new funding for a global expansion.
The funding round, led by growth equity investor summit partners, will power the firm’s growth in Europe particularly. Total funding now stands at $200m.
Fuze has already grown quickly in Europe, with revenue skyrocketing 150 per cent year-on-year, and employee headcount rising from 15 to 120 in the past year alone.
The firm already has UK operations, as well as offices in the Netherlands, Denmark and France, but will now expand in Germany and Switzerland.
Fuze has been on an aggressive shopping spree lately, buying up startups like cloud service provider Whaleback and data analytics firm Contactive, in a bid to shift from its origins as a telecom software maker to software-as-a-service vendor.
Steve Kokinos, chief executive of Fuze, said these acquisitions would help the firm in its mission to “transform the way businesses communicate”:
While that mission hasn’t changed, the way we market and sell is evolving. Voice is only the beginning of our story.
Work life is dynamic and unpredictable, and the new Fuze is all about flexible, always-on business communications, video conferencing, messaging, and collaboration.