ThinkingPhones is now Fuze and has scored another $112M in funding
At the same time the company announced it had secured an additional $112 million in a financing round led by Summit Partners, ThinkingPhones also unveiled a name and branding change. The company is now known as Fuze, taking the name of another business it acquired in November 2015.
One company taking the name of an acquired brand isn't exactly unheard of, even if it's uncommon, but this one appears to make some sense. ThinkingPhones as a brand conjures up an image of a vendor with a voice focus. Not that Fuze screams "video," which is what the company did up until its acquisition by ThinkingPhones, but it's a more general name that could mean a lot of different things.
"Over the past decade, our mission has been to transform the way businesses communicate," said Steve Kokinos, CEO of Fuze, in a statement. "While that mission hasn't changed, the way we market and sell is evolving. Voice is only the beginning of our story. Work life is dynamic and unpredictable, and the new Fuze is all about flexible, always-on business communications, video conferencing, messaging, and collaboration. When voice, text, data, and video are 'fuzed' on a single platform, great things can happen."
The new Fuze bolstered its videoconferencing capabilities with the acquisition of the old Fuze in November. In the last couple of years, it also added managed cloud services through the acquisition of Whaleback and contextual communications and analytics through the purchase of Contactive.
It's safe to say that although VoIP may still be a large part of the vendor's business, it's far from the only technology services it's offering. Even prior to the name change, Fuze was developing a unified communications as a service portfolio that saw it placed on Gartner's Magic Quadrant.
With the latest funding round led by Summit Partners, Fuze will likely use the money to continue building out its product portfolio and increasing its brand awareness.