HOLMDEL, N.J., Dec. 19 /PRNewswire/ -- Vonage Holdings Corp, a leading
provider of broadband phone service, today announced that it has raised $250
million in convertible debt funding with a group of investors led by
affiliates of Bain Capital, with strong participation from leading financial
institutions and existing investors including New Enterprise Associates (NEA)
and Meritech Capital Partners. The latest round of financing brings total
investment in the company to $658 million.
"This latest round of funding validates Vonage's leadership in the
broadband telephony market," said Jeffrey A. Citron, chairman and CEO of
Vonage Holdings Corporation.
"In addition to our existing investors, Vonage has raised capital from
sixteen new investors, which proves the financial community is confident
Vonage is executing on our strategy to redefine the way people communicate,
having already shifted the telecommunications landscape to an IP-based world."
"We are looking forward to helping Vonage continue extending its lead as
the number one player in the VoIP industry, and helping expand its services
both domestically and abroad," said Michael Krupka, managing director of Bain
Capital Ventures.
Vonage's latest round of financing will be used as general working capital
to build-out its network across the United States including deployment of
Enhanced 911. Vonage senior management also participated in the round.
Citigroup, UBS and Deutsche Bank served as financial advisors to Vonage
throughout the transaction; Shearman & Sterling LLP served as legal advisor.
About Vonage (R)
Vonage is a pioneer in the broadband phone industry, setting the standard
for pricing, features, call quality and reliability for the entire VoIP
category. Vonage's award winning service is sold on the web and through
national retailers like SAM's Club, Best Buy, Circuit City, Staples, Fry's
Electronics, Office Depot and CompUSA. Vonage Holdings Corporation is
headquartered in Holmdel, New Jersey. For more information about Vonage's
products and services, please visit http://www.vonage.com or call
1-VONAGE-HELP. Vonage(R) is a trademark of Vonage Marketing, a subsidiary of
Vonage Holdings Corp.
SOURCE Vonage Holdings Corp
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Related links:
http://www.vonage.com
CONTACT:
Mitchell Slepian of Vonage, +1-732-528-2677,
mitchell.slepian@vonage.com; or Kristin Conforti of Connors
Communications for Vonage Holdings Corp, +1-516-320-6839,
Kristin@connors.com
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