ProfitLine Raises $7M

San Diego-based ProfitLine, a provider of telecom expense management services, said today that it has raised $7M in an expansion financing. The funding came from FTVentures and Menlo Ventures. ProfitLine said the funding will go towards the next generation of its offering. ProfitLine provides outsourcing of telecom expense management. Both FTVentures and Menlo Ventures are prior investors in the firm. More information »