ProfitLine Raises $15M

San Diego-based ProfitLine, a provider of telecom expense management services, said today that it has closed a $15M round of Series B funding. Funding came from FTVentures and existing investor Menlo Ventures. The company said that the funding brings the total venture funding in the firm to $32M. The company will use the proceed to enable its recent acquisition of FedCel, a mobile outsourcer. Eric S. Byunn of FTVentures has joined the company's board. More information »