News

Tangoe, Inc. Secures $8 Million in Funding to Support Continued Expansion

Posted on: November 27, 2006
Release date: 11/27/2006
Investment by North Atlantic Capital and others will support managed services and wireless initiativesORANGE, Conn., Nov. 28, 2006—Tangoe, Inc., the leading globalprovider of enterprise telecommunications expense management (TEM)software and services, today announced that it has closed an $8 millionSeries E round of funding. The funding round was led with a $6 millioninvestment by North Atlantic Capital of Portland, ME, a late stageventure capital firm investing in technology-enabled business services.Additional investments from Edison Venture Funds, Axiom VenturePartners, and other existing Tangoe investors totaled $2 million.Tangoe will utilize the working capital from the latest round to fuelthe continued expansion of its TEM managed services practice and it’smobile and wireless expense management offerings.The company further announced the election of David Coit, managingdirector and partner at North Atlantic Capital, to its board ofdirectors.

“Tangoe has taken a leadership role in the emerging TEM market,leveraging its strength in automation technology to define the marketand to successfully guide businesses towards optimal visibility andcontrol of their communications expenditures,” said David Coit,managing director of North Atlantic Capital. “With patented technology,expanded product and service offerings, a growing list of globalchannel partners, and a veteran leadership team, Tangoe is ideallypositioned to dominate the voice, data, and wireless expense managementmarketplace.”

Tangoe will continue to focus on technology and automation as thefoundation for bringing order and clarity in order to eliminate thechaos many enterprises currently experience when trying to manage theirtelecom expenses,” said Tangoe president and CEO Al Subbloie. “With thesupport of venture firms like North Atlantic Capital, Tangoe is able toexpand our managed services capabilities and accelerate the speed atwhich we deliver new product offerings for the management of wirelessdevices and mobile services across the enterprise.”
About North Atlantic Capital
NorthAtlantic Capital is a late stage venture capital firm investing intechnology-enabled business services companies. Established in 1986,North Atlantic Capital has invested in more than 60 companiesthroughout the Eastern United States. In addition to growth capital andboard level guidance, North Atlantic Capital offers its portfoliocompanies complimentary strategy consulting services and executiveeducation programs at leading business schools.
About Tangoe
Tangoe, Inc., theglobal leader in Telecom Expense Management (TEM) solutions, deliverssoftware products and consulting services that enable organizations tobetter understand, manage, and control their enterprise-wide voice,data, and wireless telecommunications services and their costs.Tangoe’s flagship software product, the Communications ManagementPlatform (CMP), provides a patented technology foundation that enablesdramatic cost reductions, which significantly contribute toorganizational profitability. Global 2000 organizations worldwidedepend on Tangoe software and services to optimize theirtelecommunications expense management processes. In 2006, Tangoe placedat No. 105 on the Inc. 500 list, ranked No. 64 on Deloitte’s Fast 500,and was named the second fastest growing Connecticut technology companyin the Deloitte Technology Fast 50. Tangoe is headquartered in Orange,Connecticut and provides solutions in the United States through directand partner sales channels, and internationally through partner saleschannels.

Additional information about Tangoe products, services, and partners can be found at tangoe2016.wpengine.com, or requested via e-mail at sales@tangoe.com, or by calling (203) 859.9300.

$35+
Billion

of spend under
management

10+
Million

devices managed
globally

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