Videoconferencing app maker Fuzebox raises $20 mln

Thu Jul 12, 2012 9:29pm IST

Stocks

   

* Index Ventures' new 350 mln euro tech fund led round

* also Khosla Ventures, Insight Ventures invest

* Index' Mike Volpi to join Fuzebox board

July 12 (Reuters) - FuzeBox, maker of videoconferencing app Fuze, said on Thursday it has raised $20 million from venture firms to expand its sales, marketing and engineering teams.

Fuzebox competes against larger rivals Cisco, Polycom and Logitech in the corporate video conferencing market. It offers visual collaboration service at a fraction of the cost of traditional equipment providers.

Fuzebox has around 2.5 million users, which are holding 78,000 online meetings a day.

The firm was founded as CallWave in 1998. It was a public company from 2004 to 2009 when founders took it private and renamed it FuzeBox.

Index Ventures led the round, making one of the first investments from its new 350 million euro ($431 million) early stage technology fund, with Index partner Mike Volpi also joining the board of Fuzebox.

Index is perhaps best known for backing Skype, now owned by Microsoft Corp, at its early stages. Other investments include mobile-payments company Boku, online-music service Lastfm, and online-storage company Dropbox.

Also Khosla Ventures and Insight Ventures invested in Fuzebox.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Nifty Falls

Nifty Falls

The broader index hits lowest in nearly a week on profit taking  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage