Fonality, a Los Angeles, Calif. company that provides an open source Internet telephone service for small and medium sized businesses, has raised $7 million in a third round of financing.
Intel Capital led the round, which also included existing investor, Azure Capital Partners.
In a statement, Fonality said it became profitable last year. Fonality’s revenues are growing at ten percent a month, it said. Call volume has grown by 400 percent per year over the past three years. The company now serves more than 1,600 businesses in 25 countries with 40,000 individual users, it said.