Shoreline Secures $10.75 Million for its IP-PBXs

Shoreline Communications, a start-up based in Mountain View, California, secured an additional $10.75 million of financing for its enterprise-class IP PBX systems. The company, which has been shipping IP PBXs since October 1998, said “the VoIP market is clearly taking off and Shoreline is growing even faster than the market with a 70% revenue increase from Q1 to Q4 2002.” Previous investors participated in this round, including Crosspoint Venture Partners, Lehman Brothers, Foundation Capital, JP Morgan and FocusVentures. In addition, Kathryn Gould, general partner at Foundation Capital, has joined Shoreline’s Board of Directors.
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