TEM vendor Tangoe gets cash infusion

Tangoe announces $8 million in new funding.

Telecom expense management company Tangoe announced Tuesday that it secured $8 million in new funding.

Tangoe, which is one of Network World’s 10 TEM Companies to Watch, offers software that lets customers monitor, analyze, manage and control a range of telecom expense processes from one application. Companies can opt to license Tangoe’s Communications Management Platform (CMP) software; buy it as a service; or team up with Tangoe as a business process outsourcer.

Tangoe says its Series E funding was led by a $6 million investment from North Atlantic Capital and includes investments from Edison Venture Funds and Axiom Venture Partners. It plans to use the funds to further its TEM managed services practice and wireless expense management services and support offerings.

The funding will also allow Tangoe to “accelerate the speed at which we deliver new product offerings,” said Al Subbloie, Tangoe’s president and CEO, in a statement.

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