Blue Jeans Network Secures $50 Million In VC Funding
Online videoconferencing service provider Blue Jeans Network collected $50 million in venture capital funding this week, a haul that company executives said will take the company out of its scrappy startup phase and into the big leagues of the business collaboration and unified communications market.
The new round of funding, led by VC firm Battery Ventures, puts the company's total funding at about $100 million. Stu Aaron, chief commercial officer at Blue Jeans Network, told CRN the new capital will be used to fuel the company's sales and marketing efforts, and its international expansion.
Blue Jeans Network, with 3 million users, is already experiencing rapid growth despite competing against such industry heavyweights as Cisco and Polycom.