Fonality Gets Investment From Intel

Los Angeles-based Fonality has received an investment from Intel Capital, in a Series C round worth $7M, the company said late Tuesday night. Fonality said that both Intel and existing investor Azure Capital Partners participated in the investment round. Fonality is a developer of business phone systems based on the Asterisk open source PBX package. Fonality said the proceeds of the financing will be used to increase product innovation and go towards growing its channel presence. More information »