I have my Telo assigned with a static ip and noticed in the June 27th update it made mention of those with a static IP.
Ooma Telo2 425056 Release Notes
Disregard IPv6 DHCP requests [983, 1059]
Fix answering of a waiting call after remote hangs up on first call 
Fix conflict with Cloudflare DNS 
Fix issue with setting static IP 
Solution so far..
Changing the DNS server and I'm back online within a minute. Come the next day however, I'm back offline, change the DNS back and I'm back online. Under the Status page, I also see the VPN having issues. I currently did a factory reset, but still the issue so now using "Dynamic (DHCP)" as my connection type to see if that truly resolves it.
If you can't resolve the problem try changing the Telo back to using DHCP to obtain it's IP address.
Also, I use Google's DNS servers. They work great! Their IP addresses are 18.104.22.168 and 22.214.171.124. Give 'em a try if your router will let you change DNS servers!
Changing to Dynamic seems to be working, but will assign a static ip in a few days to test.
I use OpenDNS and changed to CloudFlare to get it working only for it to stop working the next day and changing back to OpenDNS for it to work again for a day - this is all after rebooting it a few times. Also, the “router” field will not show the IP assigned after saving it and coming back to the page, does yours?
Ooma is aware of the issue...fix to come with the current firmware rollout on hold. See their release notes for latest. Thanks Tom.
Workaround for those with a static IP issue is to reboot telo shortly after applying static IP settings. I haven't verified this myself, but as a temp solution I set the Oooma to accept a dynamic IP which works no problem since. For those with DD-WRT devices, you can simply assign your static ip under the Services>Services and add the OOMA's mac address and assign the IP so it will in theory have a static ip.