ProfitLine: A new way to trim your telephone bills, for $7M

profitline logoProfitline, a San Diego based company, in a couple of quick moves, secured expansion series B funding of $7M and also acquired FedCel, an international mobile outsourcing company.

The current and previous rounds of funding came from FTVentures, a San Francisco based firm that provides capital to companies which offer solutions to the financial services industry. Also in the fray is Menlo Ventures, which has always been big in investment into software, information services and communications deals. The current round brings the total venture investment in the company to $39M.

Profitline’s value proposition, summarized by their tagline is “Telecom expense management is going to benefit your business”. A frequent complaint from large companies is their mounting telecommunication bills. ProfitLine provides an outsourced telecom management system. And now, with the acquisition of FedCel, they will increase their sphere of influence into the streamlining of expenses in the mobile market, and provide companies with a tool to finally rein in their hyper blackberry users!

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