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After Raising $ 112 Million Why Did Boston Startup Rename Itself Fuze ?

Steven Kokinos says renaming a startup after eleven years isn’t as hard as it might seem. With more than 700 employees worldwide, the startup ThinkingPhones has spent an era growing into one of the largest startups in the Boston tech scene. But as ThinkingPhones modernized its communications focus beyond just the phone part , its name no longer fits it. “We’ve been ThinkingPhones for a longtime, so there is obviously some emotional attachment, but overall we’re just excited,” Kokinos says.

The Startup previously known as ThinkingPhones  has uplifted $ 112 million in a new series E funding round from Summit partners and present investors Bessemer Venture Partners and Technology Crossover Venture.

The story of ThinkingPhones started a bit slowly. Kokinos and Cofounder Derek Yoo bootstrapped the startup in Cambridge, Massachusetts, one of the several tackling the chances of refining voice communication by using the internet. Initially, the growth was slow. But as more companies shifted their computing to cloud, the aim of doing the same with their voice and messaging tools became an easier sell. ThinkingPhones picked up more grip in 2012, when it lifted its first outside dollar, and has expertise 100% or better growth each year since.

Fuze is not the only company handling “Unified communications” market. Startups like Switch have uplifted funding and earned major customers, while the heritage providers like Cisco are not sitting idle as their market share could be attacked by up startups.

The market is still early, Kokinos says, with 400 million enterprise-class businesses using voice tools and only 5% of their employees doing so over the Internet. “Communications is one of the last really big market opportunities,” the cofounder says.


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