FreedomPop Raises Additional Funding To Accelerate Growth, Adds Nextel Co-Founder Chris Rogers To Board FreedomPop closes $5 million round from DCM Capital and Mangrove Capital to boost the launch of its upcoming free phone
LOS ANGELES, July 11, 2013 /PRNewswire/ -- FreedomPop, today announced that it has closed an additional $5 million in funding from existing investors in an A.1. The round addition brings FreedomPop's total funding to $16 million. The funding will support the company's rapidly growing user base and go to meeting higher than expected demand for the Freedom Phone later this year.
"We are growing fast and this new round will help accelerate growth further and provide the best product and customer experience possible to our users," said Stephen Stokols, CEO. "We will also use these funds to increase our smartphone inventory ahead of our Android phone launch in the coming months."
FreedomPop also announced that Nextel Co-Founder and telecom guru Chris Rogers was added as a board advisor.
"Having access to advice from well-respected figures in the telecoms industry is invaluable as we continue to innovate and disrupt the sector," added Stokols.
To learn more about the FreedomPop service, go to http://www.FreedomPop.com/
FreedomPop provides disruptive mobile services so that no one is left off the "connected grid." Founded in 2011, FreedomPop is rewriting the rules of the American telecoms industry and is backed by Mangrove Capital, DCM and Skype Founder Niklas Zennstom's Atomico. The company offers a suite of devices, services, and innovative social sharing and incentive benefits for mobile and home broadband internet access, providing consumers access to free high-speed Internet nationwide. Visit www.FreedomPop.com for more information.
Media Inquiries for FreedomPop:
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