Ahead of a potential IPO, Fuze has raised an extra $30 million to the massive $104 million it closed back in February.
The Cambridge-based startup announced the new round on Wednesday, saying it plans to use the money to continue its expansion into the Asia-Pacific and Latin America and accelerate product development of its enterprise offering. Steve Kokinos, the company's co-founder and executive chairman, said in a statement that the round was led by "one of the top public pension funds in the world." Through a spokeswoman, the company declined to name the firm.
Originally known as ThinkingPhones, the company renamed itself last year to Fuze, the name of the cloud-based video conferencing company it acquired in 2015. The company offers a cloud-based unified communications service that provides voice, video and messaging capabilities, allowing companies to replace five to seven disparate services typically. That, in turn, can help companies save up to 50 percent on their communications needs.
The new round brings total funding to $334 million. Fuze's $104 million round from earlier this year was led by Wellington Management Company, an investment firm that has backed big-name tech companies like Airbnb and Magic Leap.
The latest funding news comes after Fuze bulked up its leadership team with the hiring of former Dyn CEO Colin Doherty as its new CEO and Chris Conry as its CIO. Doherty replaced Kokinos, who stepped into the role of executive chairman.
When Fuze announced its $104 million round in February, Kokinos told me that it was the company's last funding round before it potentially goes public. A company spokeswoman told me "it's still a possibility but nothing is set in stone."
