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ThinkingPhones Gets $57 Million to Expand Business

Unified communications-as-a-service (UCaaS) provider ThinkingPhones has gathered $56.7 million in venture capital to grow its business, including a doubling of its workforce in 2015.

Technology Crossover Ventures (TCV) led the funding round. Existing investor Bessemer Venture Partners also contributed.

ThinkingPhones says the investment will help it “capitalize on the revolutionary shift in business communications driven by the widespread adoption of mobile devices in the enterprise.” Specifically, ThinkingPhones will use the money to accelerate product innovation, expand the company’s global sales force, and enhance customer support services.

“TCV’s investment is great validation of the market as a whole, and more specifically of our vision to transform business communication by developing key mobility-enabled enterprise applications,” said Steve Kokinos, ThinkingPhones’ president and CEO.

ThinkingPhones was founded in 2006. The company unifies its enterprise customers’ business voice, video, text messaging, and collaboration services on a single, mobile-ready cloud platform that is accessible from any device.

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