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Vonage Adds $200M To The VoIP Market Leaders War Chest |
 
Vonage Raises $200 Million
May 6, 2005
By Staff
vonage-forum.com/vlink6.html">Vonage Holdings Corp. said it raised $200 million in a late-stage round of venture capital, an investment that gives the company some ammunition in its bid to lead the market for voice-over-Internet telephone services.
Vonage , based in Edison, N.J., has now raised more than $400 million in funding. Boston venture-capital firm Bain Capital Inc. led the current round, which will help the pure-play VOIP provider to expand further in the U.S.
While Vonage has established itself as one of the largest players in the market, it faces stiff competition from big carriers and cable operators hoping to stake their own claims.
With more than 600,000 subscriber lines, the private company is gaining 15,000 subscribers a week, claiming it will have more than one million by year's end.
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