Thinking Phone Networks, Inc. (also known as ThinkingPhones), a Cambridge, MA-based provider of unified communications platform as a service (UCaaS), closed a $56.7m Series D financing round.
The round was led by Technology Crossover Ventures (TCV), with participation from existing investor Bessemer Venture Partners (BVP). In conjunction with the funding, TCV general partner Ted Coons joined ThinkingPhones’ board of directors.
The company intends to use the funds to accelerate product innovation, expand its global sales force, and enhance customer support services. It expects to more than double its workforce by the end of 2015.
Founded in 2006, Led by Steve Kokinos, president and CEO, ThinkingPhones unifies its enterprise customers’ business voice, video, text messaging, and collaboration services on a cloud platform accessible from any device, including employees’ smartphones via the ThinkingPhones mobile app. Once connected, the platform integrates with business applications many enterprises already have in place, such as CRM and ERP services. To bring it all together, ThinkingPhones’ analytics solution aggregates data from across communications and business applications and frees information previously locked inside traditional phone systems.
FinSMEs
03/12/2014