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fring™, the leading mVoIP (mobile VoIP) provider enabling free calls, live chat and real-time presence over the mobile phones internet connection, today announced the successful completion of second round funding. This round was led by U.S. based NorthBridge Venture Partners, joined by VenFin Limited and current investors Pitango Venture Capital and Veritas Venture Partners. The companies are not disclosing any financial details regarding the investment.
“This funding will help us to continue enriching the mobile internet communication experience that has made fring a popular communication alternative” said Avi Shechter, fring co-founder and CEO. “We are excited and committed to providing fringsters with even greater freedom to communicate with all their phone or PC buddies with the open choices, rich features and cost savings that mobile VoIP can afford.”
This additional funding will be used to support the growing fring community that already includes active users in more than 150 countries worldwide. Funds will also be used to further enhance the user experience with more mobile VoIP functionality, a greater choice of call and chat providers in addition to the current Skype, MSN Messenger, Google Talk, ICQ and SIP menu and wider network coverage beyond the current 3G/GPRS/EDGE/Wi-Fi and EVDO/CDMA access. fring will also be accessible to a wider market by expanding the set of compatible handsets beyond the 400+ Symbian Nokia, Windows Mobile and UIQ Sony Ericsson devices currently supported.
“fring has demonstrated the great viral market demand for mobile communication choice” stated James Goldstein, General Partner, North Bridge Venture Partners. “We believe fring has developed the right balance in providing users with freedom of communication choice, with the right business strategy to realize the inevitable market potential that mobile VoIP will deliver.”
Rona Segev-Gal, General Partner, Pitango added: “Meeting the founding team 18 months ago, we had no doubts that fring is an outstanding company. With the second round, fring can continue its rapid growth and development and continue being a leader in the MVoIP market “.
fring is a free, downloadable mobile phone application enabling free mVoIP (mobile VoIP) calls, real-time presence and live chat with multiple IM providers over mobile data networks or a Wi-Fi connection. The fring mVoIP application offers all mobile phone and smartphone users real mobile independence. It allows them to roam freely between wireless networks (GPRS, 3G, Wi-Fi) and enjoy the benefits of multiple IM and SIP providers from one integrated contact list. fring users or “fringsters” can mobile VoIP talk and real-time chat for free from their mobile handsets with other fring users, landlines or cellular phones using Skype-out and SIP providers as well as PC contacts through Skype, Google Talk, MSN Messenger, ICQ and Twitter. |