Fonality bags $7 million
Source: saunderslog.com
Although the spotlight has been shining on Asterisk creator Digium of late with their executive announcements and expansion plans, the grass hasn’t been growing under Fonality’s feet either. Just announced this morning: Fonality has raised a C round of $7 million from Intel Capital in order to facilitate market expansion.
Fonality will use most of the new money to expand its marketing channel, with the rest going toward product development. Its direct sales efforts are doing fine, according to [Fonality CEO Chris. Lyman, but it needs to do more to develop sales through resellers. Although it’ll be expanding both in the U.S. and overseas, it sees particular opportunity in some Asian and European markets.
Wasn’t channel creation also a bi. reason for Digium’. recent executive announcements. Hmmm.
Everybody loves a horse race, and this one seems to be the real deal.
