ThinkingPhones has acquired San Francisco-based Fuze, a cloud-based video conferencing company. No financial terms were disclosed. Fuze’s backers included Hermes Growth Partners, Index Ventures, Khosla Ventures and Insight Venture Partners.
CAMBRIDGE, Mass.–(BUSINESS WIRE)–ThinkingPhones, an innovator in developing mobile-enabled, analytics-driven business communications and the fastest growing unified communications as a service (UCaaS) company globally, announced today that it has acquired Fuze, the leading cloud-based video conferencing company. With Fuze, ThinkingPhones expands its platform to enable the modern, mobile workforce to conduct business anytime, anywhere.
Based in San Francisco with additional offices in Palo Alto and Seattle, Fuze helps distributed teams work across distances through HD-quality voice and video conferencing and content sharing across devices, desktops, and meeting rooms. More than 100,000 companies use Fuze to make meetings more meaningful, including Groupon, Starbucks, Macys.com, and Thoughtworks.
“The acquisition of Fuze marks an important investment in our vision for unifying communication in the enterprise, as well as in the success of our customers who have come to expect unparalleled user experiences that drive engagement,” said Steve Kokinos, co-founder and CEO of ThinkingPhones. “These same customers need to have the ability to communicate seamlessly from any device or location, with reliable quality every time.”
ThinkingPhones customers will be able to enjoy the power of Fuze’s video conferencing platform alongside their current ThinkingPhones services, creating a connected user experience organized under a single interface. The fully integrated product experience is planned for general availability in 2016.
“The Fuze team has built a powerful video conferencing platform utilized by more than 6.5 million users,” added Derek Yoo, co-founder and CTO of ThinkingPhones. “Together, we share the goal of enabling today’s knowledge workers by reimagining and streamlining communications and collaboration, all with a focus on the end user experience.”
According to Transparency Market Research, the global UCaaS market is expected to see significant growth through 2022 when it reaches more than $37 billion. Additionally, the video conferencing market is expected to reach $6.4 billion by 2020, with the web conferencing market expected to reach at $2.88 billion by 2017.
“We are excited to scale our world class video conferencing experience as part of the ThinkingPhones suite of UCaaS services,” said Charlie Newark-French, president of Fuze. “ThinkingPhones has a proven track record of growth and innovation. With our combined resources, Fuze for ThinkingPhones will have the ability to deliver what distributed teams need most: a platform that allows them to collaborate however they want, from voice to text to meetings.”
Fuze marks ThinkingPhones’ third acquisition since 2014. In February of this year, ThinkingPhones acquired Contactive, a multi-platform product that optimizes business communications. In August of 2014, ThinkingPhones acquired Whaleback, a New Hampshire-based company that provides managed, cloud-based services to medium-sized businesses.
Within the first half of 2015, ThinkingPhones saw a 150 percent increase in net new customer sales over the first half of 2014. The company grew its physical presence, with new office locations in New York City; London; Paris; Copenhagen; Zurich; and Aveiro, Portugal as part of its continued global expansion strategy. With 300 new hires joining the company between January and September, the company also raised its total headcount to more than 550 employees globally.
ThinkingPhones, an innovator in developing mobile-enabled, analytics-driven business communications, seamlessly unifies voice, text, and conferencing services on a single cloud platform. The company, a three-time Gartner Magic Quadrant for UCaaS “Leader,” three-time Gartner Magic Quadrant for UCaaS “Visionary,” and Frost & Sullivan UCaaS “Company of the Year,” is the only unified communications provider suited to deliver solutions that solve the evolving collaboration challenges inherent in today’s increasingly mobile and social workforce. ThinkingPhones has locations in Boston, New York, Ottawa, London, Amsterdam, Portugal, Paris, Zurich, and Copenhagen. For more information, visit http://www.thinkingphones.com.