SAN FRANCISCO (PRWEB) July 12, 2012
FuzeBox, the global leader in real-time visual collaboration across mobile and desktop devices, today announced it has closed a $20 million Series A financing to scale its products, sales, and marketing efforts worldwide. The round is being led by Index Ventures with participation from Khosla Ventures and Insight Ventures. FuzeBox is also raising another $2.5 million in debt financing from Triple Point Capital, for a total round value of $22.5 million.
FuzeBox technology is designed to give users total freedom from locations, varying networks, and low-resolution screen sharing solutions. FuzeBox solutions are cloud-based and make online meetings and conferencing experiences simple and intuitive, yet powerful enough to connect enterprise users across any device with a full suite of collaboration tools. The company’s platform powers over 78,000 online meetings per day in 122 countries and 10 different languages.
Mike Volpi, Partner at Index Ventures, will be joining the board to help the company grow its sales, marketing, and engineering force and support enterprise demand for its products. The infusion of capital will also allow FuzeBox to activate larger-scale marketing efforts to support its global expansion of high-end yet affordable enterprise communication and collaboration solutions.
The funding from industry architects such as Mike Volpi (Partner, Index Ventures) and Khosla Ventures (established by Sun Microsystem’s founder, Vinod Khosla) highlights the promise behind FuzeBox’s vision of cloud-based visual collaboration, and immense market opportunity.
“We are excited about FuzeBox because it empowers visual collaboration in today’s enterprises with a SaaS-based solution for any device – importantly, leading in mobile. Fuzebox is perfectly placed to be a leader in its market,” said Mike Volpi, Partner at Index Ventures.
“Our vision is to revolutionize the way the world does business, bringing people face-to-face without sacrificing the most important qualities of human interaction and collaboration,” states Jeff Cavins, CEO of FuzeBox. “With today’s investment we believe we can make that vision a reality at scale.”
Businesses can learn more about the Fuze by contacting sales(at)fuzebox.com or by visiting: http://www.fuzebox.com/pricing
FuzeBox is the global leader in real time visual collaboration applications for millions of end users across various businesses. Its flagship application, Fuze HD, allows people to communicate, collaborate and share content from any device, across any network, anywhere in the world. Fuze HD is a mobile and web-based collaboration service that features integrated audio conferencing as well as high-definition, synchronized video and image sharing. The company's technology is based on a real-time visual communications platform that converges telephony, high-definition, synchronized video and image sharing across the enterprise, the web and mobile networks. For more information, please visit: http://www.fuzebox.com
ABOUT INDEX VENTURES:
Index Ventures is a leading global venture capital firm active in technology and biotechnology investing since 1996. From our offices in Geneva, London and San Francisco we love to discover and support the most entrepreneurial teams wherever they are looking to build market defining global businesses. For more information on our investments, from seed through to growth stage, please visit http://www.indexventures.com
ABOUT KHOSLA VENTURES:
Khosla Ventures offers venture assistance, strategic advice and capital to entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in breakthrough scientific work in clean technology areas such as bio-refineries for energy and bioplastics, solar, battery and other environmentally friendly technologies as well as traditional venture areas like the Internet, computing, mobile and silicon technology arenas. Vinod Khosla founded the firm in 2004 and was formerly a General Partner at Kleiner Perkins and founder of Sun Microsystems. Khosla Ventures is based in Menlo Park, California. More information is available at http://www.khoslaventures.com
ABOUT INSIGHT VENTURES:
Insight Venture Partners is a leading private equity and venture capital firm investing in software, eCommerce, internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide them with practical, hands-on growth expertise to foster long-term success. Insight invests globally from our headquarters in New York City, but invests globally. For more information, visit http://www.insightpartners.com
ABOUT TRIPLEPOINT VENTURES:
TriplePoint Capital is a Sand Hill Road-based global financing provider to high growth venture capital-backed companies throughout their lifespan, providing customized debt financing, leasing, and direct equity investments. TriplePoint provides unparalleled levels of creativity, flexibility and customer service to serve as the primary debt financing provider for leading venture capital-backed companies in the technology, cleantech and life sciences sectors and is the only debt provider equipped to meet the unique needs of high growth venture-backed companies at every stage of their development. For more information, visit http://www.triplepointcapital.com