Grotech Ventures Portfolio Company Broadsoft files IPO

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BroadSoft Inc., a Gaithersburg, Md.-based provider of VoIP application software to the telecom industry, has filed for a $103.5 million IPO. It plans to trade on the Nasdaq under ticker symbol BSFT, with Goldman Sachs and Jefferies & Co. serving as co-lead underwriters.

Broadsoft has raised around $76 million in total VC funding since 1998, from firms like Bessemer Venture Partners (23.3% pre-IPO stake), Grotech Ventures (12.6%), Charles River Ventures (12.5%), Columbia Capital (9.1%), RRE Ventures (6.7%), Crescendo Ventures and Meritech Capital Partners.

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It also recently acquired Packet Island, which had raised just over $3 million from Garage Technology Ventures, Rincon Venture Partners and Startup Capital Ventures.

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