ThinQ, a pioneer in cloud-based communications software as a service, has announced that it has raised USD 24 million in financing, led by Turn/River Capital, a technology growth equity and buyout firm, the company said.
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).
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.
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.
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.