Cloud Firm Nexmo Gets Funding at $100 Million Valuation
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Nexmo Inc., a cloud-based communication service, raised $18 million in a funding round that values it at more than $100 million as the company rides rising demand for text-messaging applications.
The financing was led by private equity fund Sorenson Capital and existing investors including Intel Capital, said Nexmo Chief Executive Officer Tony Jamous. The money will be used to expand staff globally and to boost the product lineup of the San Francisco-based company, he said, adding that Nexmo’s total capital raised now stands at about $22 million.