Fuze, the leading cloud-based communications solution provider for the modern global enterprise, today announced a recent financing round of $150 million. The investment will be used to accelerate product innovation, and drive global expansion to serve the growing enterprise market demand for cloud communications. The round was led by Boston-based Summit Partners, with participation from Bessemer Venture Partners and other existing investors––bringing Fuze’s total funding to $484.8 million.
“We have great momentum right now in the enterprise market with the launch of Fuze Web and the new 5.0 platform, and have built an amazing team,” said Colin Doherty, CEO at Fuze. “This investment enables Fuze to grow and innovate even faster.”
Fuze has been aggressively investing in product innovation over the past year. The company today announced the new Fuze 5.0 platform, which helps businesses streamline communications and collaboration for their extended team ecosystems of independent contractors, vendors, partners, and customers. In March, Fuze announced it had joined forces with AppNeta to deliver a new Real-Time Network Monitoring service that gives Fuze customers real-time visibility into network performance and the ability to resolve issues before they affect the quality of communications. The company also introduced Fuze Web, enhancing the Fuze platform by enabling any user or guest participant to enjoy the same experience as Fuze Desktop without needing to install an app or browser extension.
“Our investment will help to accelerate continued growth and innovation of the Fuze platform and expansion of the company’s business operations globally,” said Bruce R. Evans, the Fuze board member from Summit Partners. “We are confident Fuze is positioned to continue to lead the enterprise cloud communications market.”
Fuze posted a 44 percent increase in subscription revenue year-over-year and 500 percent year-over-year growth of daily active users on its Fuze Desktop collaboration platform. The company also launched hundreds of new enterprise customers and earned numerous industry accolades, including:
- Named a leader in the Aragon Research Globe™ for Unified Communications and Collaboration, 2018
- Named a visionary in Gartner’s Magic Quadrant for Communications as a Service
- Frost and Sullivan’s Innovation and Leadership Award in UCaaS and Converged Conferencing Services
- Clear Leader for the Enterprise UCaaS Market in Synergy’s 2017 Market Reports
“Fuze has done the hard, complicated work to build a cloud communications company focused on the enterprise market segment,” said Bob Goodman, partner at Bessemer Venture Partners. “We’re excited to work with the Fuze team on their continued market leadership as large companies shift communications to the cloud.”