Fonality Dials Up $12M

Los Angeles-based Fonality, which develops open source PBX software and communications systems, said late Wednesday evening that it has raised $12M in a financing round. The round was led by Draper Fisher Jurvetson Growth Fund, and also included prior investor Intel Capital. Fonality said it will use the new capital to expand its market share. Randy Glein of DFJ Growth Fund has joined the firm's board of directors along with the funding. Fonality develops open source PBX software, which it sells to the small business market. Fonality has previously also scored funding from Azure Capital Partners and MHS Capital Partners. More information »