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Vonage Expanding Via Capital Infusion

Vonage Holdings Corp., the biggest Internet phone company, on Monday said it will fund expansion in Canada, the United Kingdom and the United States after raising $200 million through its investors and senior management.


Edison, N.J.-based Vonage also said it might launch Internet phone service in other countries.


The financing round led by Bain Capital brings to $408 million the amount of capital invested in Vonage since the company was founded in January 2001. New Enterprise Associates, 3i, Meritech Capital Partners and Institutional Venture Partners also participated in the latest round of funding.


Vonage has about 600,000 lines in service and reports adding 15,000 lines a week.



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