RALEIGH, N.C.--(BUSINESS WIRE)--ThinQ, a pioneer in cloud-based communications software as a service, today announced that it has raised $24 million in financing, led by Turn/River Capital, a leading technology growth equity and buyout firm. Vaquero Capital advised on the deal. Funds will be used for further product development and to support the rapidly increasing demand for thinQ’s Communications Platform as a Service (CPaaS).
“Over the past year, demand for our platform has increased substantially, and we’ve now surpassed 1,000 customers, largely due to the fact that we have developed a powerful API that makes it easy for companies to access and manage carrier services,” said Aaron Leon, CEO of thinQ. “Now, with this round of financing, we can accelerate growth and continue to innovate in order to solve all types of business communications needs. We are also excited to expand our exceptional team.”
ThinQ has developed the most powerful, customizable, and intuitive cloud-based platform in the industry to help businesses enhance their inbound and/or outbound communications, accessible via an API. ThinQ offers products for voice and SMS, as well as the industry’s only toll-free least-cost routing (LCR) and disaster recovery solution to enable contact centers and enterprise companies to connect to and manage multiple carriers based on criteria such as cost, uptime, call quality, and disaster recovery options, all within the same intuitive platform.
“A quality cloud-based CPaaS is essential for any business today, and thinQ has developed world-class, API-driven solutions that are cost effective for enterprises and contact centers,” said Dominic Ang, Managing Partner at Turn/River Capital. “We are excited to both provide capital and work hand-in-hand with the thinQ team, providing our own unique operational expertise in SaaS sales and marketing to help thinQ assist today’s businesses with all of their communications and carrier management needs.”
To learn more about all that thinQ has to offer, please visit www.thinQ.com.
Headquartered in Raleigh, part of North Carolina’s booming Research Triangle, thinQ provides state of the art Communations as a Service including Termination, Origination, SMS and full API services for the contact center, enterprise, and service provider industries. Our energetic team of thinQers fuse the skill, industry experience and vision that is pioneering the telecom industry. In addition to the US, thinQ’s team is also located in Brazil and Argentina. Please visit www.thinQ.com for more details.
About Turn/River Capital
Turn/River specializes in growth capital investments, founder liquidity, buyouts, spin-outs, recapitalizations of technology, web and SaaS companies. Its strategy is to combine rigorous, iterative marketing, sales and operational execution with flexible capital to help companies double or triple their growth and build value for everyone. Turn/River Capital is headquartered in San Francisco. For more information, visit www.turnriver.com or follow us on Twitter and LinkedIn.