Tangoe Raises $3 Million in Equity Round

Tangoe, a company providing enterprises software to manage their communications needs, announced Thursday raising $3 million in equity financing.

Edison Venture Fund led the second financing round followed by Series A investors.

“Tangoe has demonstrated that its software dramatically reduces an enterprise’s voice and data spend through automation and we are confident that its strong management team will be able to capitalize on its leadership position in this fast growing area,” said Gary Golding, Edison General Partner, in a statement Thursday.

Tangoe, a software provider based in New Haven, Conn., mostly sells its products and services through a direct sales force. However, the company has partnered with global systems integrator, Accenture.

Tangoe also is considering teaming up with global companies that manage an enterprise’s IT needs, telecom billing auditors who serve as consultants and other companies that process and manage billing for an enterprise, said Andrew Esposito, vice president of sales, Tangoe.

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