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Video Conferencing Company Fuze Buys LiveMinutes, Raises $20M To Expand Into Team Collaboration
San Francisco-based video conferencing company Fuze is expanding its platform today with the acquisition of an online team collaboration platform, LiveMinutes. With the addition, Fuze is no longer focused only on online meetings, but is now also rolling out a new product called Fuze Spaces which allows colleagues to chat, share and comment on files, organize projects, and more via a web-based dashboard.
Fuze also announced today it had closed on $20 million in new funding from Hermes Growth Partners to continue to expand its business..
The company has already established itself as a more modern alternative to services like WebEx and GoToMeeting with its voice and HD video conferencing solution aimed at helping distributed teams connect, share content and share screens via the cloud. The service is today used by over 100,000 businesses, including big names like Groupon, Starbucks, Macy's and Thoughtworks. In 2014, 6.5 million people used Fuze - up 100% over the year prior, the company says. And it hosts nearly 2 million minutes of meetings each day.
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