The company says the funds are needed to maintain the phenomenal growth it has achieved in the number of subscribers it has attracted to its service, currently said to be 600,000. Its ambitious target is to sign up 1.2 million subscribers by the end of this year.
Earlier this year, the company rolled out services in the U.K. and Canada, and it says most of the money it has raised will go on international expansion and marketing of its service in North America.
The Vonage softphone is built by Xten.