================================================================================

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 --------------

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                               (AMENDMENT NO. 1)*


                              Vonage Holdings Corp.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, $.001 par value per share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    92886T201
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2007
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

     [ ] Rule 13d-1(b)
     [ ] Rule 13d-1(c)
     [X] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 2 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       New Enterprise Associates 11, Limited Partnership
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       PN
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 3 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       NEA Partners 11, Limited Partnership
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       PN
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 4 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       NEA 11 GP, LLC
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       OO
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 5 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       New Enterprise Associates 10, Limited Partnership
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       PN
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 6 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       NEA Partners 10, Limited Partnership
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       PN
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 7 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       M. James Barrett
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 8 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Peter J. Barris
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        175,514
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               175,514
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,176,376
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.7%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                                ============
CUSIP NO.  92886T201                   13G                          PAGE 9 OF 29
====================                                                ============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Forest Baskett
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 10 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Ryan D. Drant
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 11 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Krishna Kolluri
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 12 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       C. Richard Kramlich
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 13 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Charles M. Linehan
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 14 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Charles W. Newhall III
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 15 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Mark W. Perry
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 16 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Scott D. Sandell
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 17 OF 29
====================                                               =============

================================================================================
  1    NAMES OF REPORTING PERSONS
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Eugene A. Trainor III
-----  -------------------------------------------------------------------------
  2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_]
                                                                          (b)[_]

-----  -------------------------------------------------------------------------
  3    SEC USE ONLY


-----  -------------------------------------------------------------------------
  4    CITIZENSHIP OR PLACE OF ORGANIZATION

       United States
--------------------------------------------------------------------------------
                   5    SOLE VOTING POWER

                        0
                 -----  --------------------------------------------------------
  NUMBER OF        6    SHARED VOTING POWER
   SHARES
BENEFICIALLY            29,000,862
  OWNED BY       -----  --------------------------------------------------------
    EACH           7    SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH:        -----  --------------------------------------------------------
                   8    SHARED DISPOSITIVE POWER

                        29,000,862
-----  -------------------------------------------------------------------------
  9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

       29,000,862
-----  -------------------------------------------------------------------------
 10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
       (SEE INSTRUCTIONS)                                               [_]

-----  -------------------------------------------------------------------------
 11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

       18.6%
-----  -------------------------------------------------------------------------
 12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

       IN
================================================================================

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 18 OF 29
====================                                               =============

ITEM 1(A).   NAME OF ISSUER:
             --------------
             Vonage Holdings Corp.

ITEM 1(B).   ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
             -----------------------------------------------
             25 Main Street, Holmdel, NJ 07733

ITEM 2(A).   NAMES OF PERSONS FILING:
             -----------------------
             New Enterprise Associates 10, Limited Partnership ("NEA 10"); NEA
             Partners 10, Limited Partnership, which is the sole general partner
             of NEA 10 ("NEA Partners 10"); M. James Barrett ("Barrett"), Peter
             J. Barris ("Barris"), C. Richard Kramlich ("Kramlich"), Peter T.
             Morris ("Morris"), Charles W. Newhall III ("Newhall"), Mark W.
             Perry ("Perry"), Scott D. Sandell ("Sandell") and Eugene A. Trainor
             III ("Trainor") (collectively, the "NEA 10 Managers") who are the
             individual general partners of NEA Partners 10; New Enterprise
             Associates 11, Limited Partnership ("NEA 11"); NEA Partners 11,
             Limited Partnership ("NEA Partners 11"), which is the general
             partner of NEA 11; NEA 11 GP, LLC ("NEA 11 GP"), which is the
             general partner of NEA Partners 11; and Forest Baskett ("Baskett"),
             Ryan D. Drant ("Drant"), Krishna Kolluri ("Kolluri") and Charles M.
             Linehan ("Linehan") (the "NEA 11-only Managers"). The NEA 10
             Managers and the NEA 11-only Managers (collectively, the
             "Managers") are the individual managers of NEA 11 GP. The persons
             named in this paragraph are referred to individually herein as a
             "Reporting Person" and collectively as the "Reporting Persons."

ITEM 2(B).   ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
             -----------------------------------------------------------
             The address of the principal business office of NEA 10, the NEA
             Partners 10, NEA 11, NEA Partners 11, NEA 11 GP, Newhall and
             Trainor is New Enterprise Associates, 1119 St. Paul Street,
             Baltimore, Maryland 21202. The address of the principal business
             office of Baskett, Kolluri, Kramlich, Linehan, Morris, Perry and
             Sandell is New Enterprise Associates, 2490 Sand Hill Road, Menlo
             Park, California 94025. The address of the principal business
             office of Barris, Barrett and Drant is New Enterprise Associates,
             5425 Wisconsin Ave., Suite 800, Chevy Chase, MD 20815.

ITEM 2(C).   CITIZENSHIP:
             -----------
             NEA 10 and the NEA PARTNERS 10 are limited partnerships organized
             under the laws of the State of Delaware. NEA 11 GP is a limited
             liability company organized under the laws of the State of
             Delaware. NEA Partners 11 and NEA 11 are limited partnerships
             organized under the laws of the State of Delaware. Each of the
             Managers is a United States citizen.

ITEM 2(D).   TITLE OF CLASS OF SECURITIES:
             ----------------------------
             Common Stock, $.001 par value ("Common Stock").

ITEM 2(E).   CUSIP NUMBER:
             ------------
             92886T201.

ITEM 3.      IF THIS STATEMENT IS FILED PURSUANT TO SS.SS. 240.13D-1(B) OR
             -------------------------------------------------------------
             240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
             ---------------------------------------------------------
             Not applicable.

ITEM 4.      OWNERSHIP.
             ---------
             (a)  Amount Beneficially Owned: NEA 10 is the record owner of
                  21,092,370 shares of Common Stock as of December 31, 2007. NEA
                  10 is also the record owner of a promissory note with a face

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 19 OF 29
====================                                               =============

                  amount of $11,416,250 convertible at any time at a rate of
                  $14.22 per share into 802,831 shares of Common Stock.
                  Accordingly, NEA 10 may be deemed to own beneficially an
                  aggregate of 21,895,201 shares of Common Stock (the "NEA 10
                  Shares"). As the sole general partner of NEA 10, NEA Partners
                  10 may be deemed to own beneficially the NEA 10 Shares. As the
                  individual general partners of NEA Partners 10, the sole
                  general partner of NEA 10, each of the NEA 10 Managers may
                  also be deemed to own beneficially NEA 10 Shares.

                  NEA 11 is the record owner of 6,838,051 shares of Common
                  Stock. NEA 11 is also the record owner of a promissory note
                  with a face amount of $3,805,416.67 convertible at any time at
                  a rate of $14.22 per share into 267,610 shares of Common
                  Stock. Accordingly, NEA 11 may be deemed to own in the
                  aggregate 7,105,661 shares of Common Stock (the "NEA 11
                  Shares"). As the sole general partner of NEA 11, NEA Partners
                  11 may be deemed to own beneficially the NEA 11 Shares. As the
                  general partner of NEA Partners 11, NEA 11 GP likewise may be
                  deemed to own beneficially the NEA 11 Shares. As the
                  individual Managers of NEA GP 11, each of the Managers also
                  may be deemed to own beneficially the NEA 11 Shares.

                  By virtue of their relationship as affiliated entities, whose
                  controlling entities have overlapping individual controlling
                  persons, each of the Reporting Persons may be deemed to share
                  the power to direct the disposition and vote of the NEA 10
                  Shares and the NEA 11 Shares for an aggregate of 29,000,862
                  shares (the "Firm Shares").

                  As of December 31, 2006 Barris is the record owner of 11,250
                  shares of Common Stock and options to purchase 164,264 shares
                  of Common Stock (the "Barris Shares") exercisable within sixty
                  days. Accordingly, Barris may be deemed to be the beneficial
                  owner of the Barris Shares in addition to the Firm Shares for
                  a total of 29,176,376 shares of Common Stock.

             (b)  Percent of Class: See Line 11 of cover sheets. The percentages
                  set forth on the cover sheets are calculated based on
                  155,863,949 shares of Common Stock reported to be outstanding
                  by the Issuer in Form 10-Q as filed with the Securities and
                  Exchange Commission on November 14, 2007 for the period ending
                  October 31, 2007.

             (c)  Number of shares as to which such person has:

                  (i)   sole power to vote or to direct the vote: See Line 5 of
                        cover sheets.

                  (ii)  shared power to vote or to direct the vote: See Line 6
                        of cover sheets.

                  (iii) sole power to vote or to direct the vote: See Line 7 of
                        cover sheets.

                  (iv)  shared power to dispose or to direct the disposition of:
                        See Line 8 of cover sheets.

             Each Reporting Person disclaims beneficial ownership of such shares
             of Common Stock except for the shares, if any, such Reporting
             Person holds of record.


====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 20 OF 29
====================                                               =============

ITEM 5.      OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
             --------------------------------------------
             Morris has ceased to beneficially own five percent (5%) or more of
             the Issuer's Common Stock and as of December 31, 2007 does not own
             five percent or more of the Issuer's Common Stock.

ITEM 6.      OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
             ---------------------------------------------------------------

             Not applicable.

ITEM 7.      IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
             ------------------------------------------------------------------
             THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
             ------------------------------------------------------------
             Not applicable.

ITEM 8.      IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
             ---------------------------------------------------------
             Not applicable. The Reporting Persons expressly disclaim membership
             in a "group" as used in Rule 13d-5(b).

ITEM 9.      NOTICE OF DISSOLUTION OF GROUP.
             ------------------------------
             Not applicable.

ITEM 10.     CERTIFICATION.
             -------------
             Not applicable. This statement on Schedule 13G is not filed
             pursuant to Rule 13d-1(b) or Rule 13d-1(c).




====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 21 OF 29
====================                                               =============

                                    SIGNATURE

         After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.

Date:    February 12, 2008

NEW ENTERPRISE ASSOCIATES 11,
LIMITED PARTNERSHIP

By:  NEA PARTNERS 11, LIMITED PARTNERSHIP
     General Partner

     By:  NEA 11 GP, LLC
          General Partner


          By:         *
             ----------------------------------------
             Eugene A. Trainor III
             Manager


NEA PARTNERS 11, LIMITED PARTNERSHIP

         By:  NEA 11 GP, LLC
              General Partner


              By:         *
                 ------------------------------------
                 Eugene A. Trainor III
                 Manager


NEA 11 GP, LLC


By:         *
   --------------------------------------------------
    Eugene A. Trainor III
    Manager


NEW ENTERPRISE ASSOCIATES 10,
  LIMITED PARTNERSHIP

By:  NEA PARTNERS 10, LIMITED PARTNERSHIP
     General Partner


     By:          *
         --------------------------------------------
         Charles W. Newhall III
         General Partner



====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 22 OF 29
====================                                               =============

NEA PARTNERS 10, LIMITED PARTNERSHIP

By:          *
    ---------------------------------
    Charles W. Newhall III
    General Partner


         *
-------------------------------------
Michael James Barrett


         *
-------------------------------------
Peter J. Barris


         *
-------------------------------------
Forest Baskett


         *
-------------------------------------
Ryan D. Drant


         *
-------------------------------------
C. Richard Kramlich


         *
-------------------------------------
Krishna Kolluri


         *
-------------------------------------
Charles M. Linehan


         *
-------------------------------------
Peter T. Morris


         *
-------------------------------------
Charles W. Newhall III


         *
-------------------------------------
Mark W. Perry


         *
-------------------------------------
Scott D. Sandell

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 23 OF 29
====================                                               =============



         *
-------------------------------------
Eugene A. Trainor III




                                       *By: /s/ Louis S. Citron
                                            ------------------------------------
                                            Louis S. Citron
                                            As attorney-in-fact



This Amendment to Schedule 13G was executed by Louis S. Citron on behalf of the
individuals listed above pursuant to Powers of Attorney, copies of which are
attached as Exhibit 2.

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 24 OF 29
====================                                               =============

                                                                       EXHIBIT 1
                                                                       ---------

                                    AGREEMENT

         Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of stock of Vonage Holdings Corp.

         EXECUTED this 12th day of February, 2008.


NEW ENTERPRISE ASSOCIATES 11,
  LIMITED PARTNERSHIP


By:  NEA PARTNERS 11, LIMITED PARTNERSHIP
     General Partner

     By:  NEA 11 GP, LLC
          General Partner


          By:         *
             ----------------------------------------
             Eugene A. Trainor III
             Manager


NEA PARTNERS 11, LIMITED PARTNERSHIP

          By:  NEA 11 GP, LLC
               General Partner


               By:         *
                  -----------------------------------
                  Eugene A. Trainor III
                  Manager


NEA 11 GP, LLC


By:         *
   ------------------------------------
    Eugene A. Trainor III
    Manager

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 25 OF 29
====================                                               =============

NEW ENTERPRISE ASSOCIATES 10,
  LIMITED PARTNERSHIP

By:  NEA PARTNERS 10, LIMITED PARTNERSHIP
     General Partner


     By:           *
          -------------------------------------------
          Charles W. Newhall III
          General Partner


NEA PARTNERS 10, LIMITED PARTNERSHIP


By:           *
     ------------------------------------------------
     Charles W. Newhall III
     General Partner



         *
---------------------------------------
Michael James Barrett


         *
---------------------------------------
Peter J. Barris


         *
---------------------------------------
Forest Baskett


         *
---------------------------------------
Ryan D. Drant


         *
---------------------------------------
C. Richard Kramlich


         *
---------------------------------------
Krishna Kolluri


         *
---------------------------------------
Charles M. Linehan


         *
---------------------------------------
Peter T. Morris

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 26 OF 29
====================                                               =============

         *
---------------------------------------
Charles W. Newhall III


         *
---------------------------------------
Mark W. Perry


         *
---------------------------------------
Scott D. Sandell


         *
---------------------------------------
Eugene A. Trainor III




                                       *By: /s/ Louis S. Citron
                                            ------------------------------------
                                            Louis S. Citron
                                            As attorney-in-fact



This Agreement was executed by Louis S. Citron on behalf of the individuals
listed above pursuant to Powers of Attorney, copies of which are attached as
Exhibit 2.

====================                                               =============
CUSIP NO.  92886T201                   13G                         PAGE 27 OF 29
====================                                               =============

                                                                       EXHIBIT 2
                                                                       ---------

                                POWER OF ATTORNEY

     KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes and
appoints Charles W. Newhall III, Louis S. Citron, Eugene A. Trainor III and
Shawn Conway, and each of them, with full power to act without the others, his
true and lawful attorney-in-fact, with full power of substitution, to sign any
and all instruments, certificates and documents that may be necessary, desirable
or appropriate to be executed on behalf of himself as an individual or in his
capacity as a direct or indirect general partner, director, officer or manager
of any partnership, corporation or limited liability company, pursuant to
section 13 or 16 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and any and all regulations promulgated thereunder, and to file
the same, with all exhibits thereto, and any other documents in connection
therewith, with the Securities and Exchange Commission, and with any other
entity when and if such is mandated by the Exchange Act or by the By-laws of the
National Association of Securities Dealers, Inc., granting unto said
attorney-in-fact full power and authority to do and perform each and every act
and thing necessary, desirable or appropriate, fully to all intents and purposes
as he might or could do in person, thereby ratifying and confirming all that
said attorney-in-fact, or his substitutes, may lawfully do or cause to be done
by virtue hereof.

     IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 31st
day of March, 2007.

                                       /s/ Forest Basket
                                       -----------------------------------------
                                       Forest Basket


                                       /s/ M. James Barrett
                                       -----------------------------------------
                                       M. James Barrett


                                       /s/ Peter J. Barris
                                       -----------------------------------------
                                       Peter J. Barris


                                       /s/ Ryan Drant
                                       -----------------------------------------
                                       Ryan Drant


                                       /s/ Shawn Conway
                                       -----------------------------------------
                                       Shawn Conway


                                       /s/ Paul Hsiao
                                       -----------------------------------------
                                       Paul Hsiao


                                       /s/ Vladimir Jacimovic
                                       -----------------------------------------
                                       Vladimir Jacimovic


                                       /s/ Patrick J. Kerins
                                       -----------------------------------------
                                       Patrick J. Kerins

====================                                               =============
CUSIP NO.  45773Y105                   13G                         PAGE 28 OF 29
====================                                               =============


                                       /s/ Suzanne King
                                       -----------------------------------------
                                       Suzanne King


                                       /s/ Krishna Kolluri
                                       -----------------------------------------
                                       Krishna Kolluri


                                       /s/ C. Richard Kramlich
                                       -----------------------------------------
                                       C. Richard Kramlich


                                       /s/ Charles M. Linehan
                                       -----------------------------------------
                                       Charles M. Linehan


                                       /s/ Peter T. Morris
                                       -----------------------------------------
                                       Peter T. Morris


                                       /s/ John M. Nehra
                                       -----------------------------------------
                                       John M. Nehra


                                       /s/ Charles W. Newhall III
                                       -----------------------------------------
                                       Charles W. Newhall III


                                       /s/ Jason R. Nunn
                                       -----------------------------------------
                                       Jason R. Nunn


                                       /s/ Mark W. Perry
                                       -----------------------------------------
                                       Mark W. Perry


                                       /s/ Michael Raab
                                       -----------------------------------------
                                       Michael Raab


                                       /s/ Scott D. Sandell
                                       -----------------------------------------
                                       Scott D. Sandell

====================                                               =============
CUSIP NO.  45773Y105                   13G                         PAGE 29 OF 29
====================                                               =============


                                       /s/ A. Brooke Seawell
                                       -----------------------------------------
                                       A. Brooke Seawell


                                       /s/ Eugene A. Trainor III
                                       -----------------------------------------
                                       Eugene A. Trainor III


                                       /s/ Sigrid Van Bladel
                                       -----------------------------------------
                                       Sigrid Van Bladel


                                       /s/ Ravi Viswanathan
                                       -----------------------------------------
                                       Ravi Viswanathan


                                       /s/ Harry Weller
                                       -----------------------------------------
                                       Harry Weller