fring fuels mobile video communication with C-round funding
Following its recent mobile Group Video launch, fring adds up-round to double innovation pace and market reach
London, United Kingdom, 24 May 2011. fring, the mobile communication service that pioneered free mobile calls and mobile Video over IP calls, today announces closing its C-round of financing.
The new financing will expedite fring's unrelenting mobile innovations and bring fring's fun video communication suite to a slew of new devices and segments of users.
fring's new financing complements fring's primary revenue engines, fringOut and advertising, which are contributing at a rate of $10 million annually.
"Time and again, our team has shown it has the innovative edge to deliver ground-breaking, consumer communication experiences." Said Avi Shechter, Co-Founder & CEO of fring. "This is how our young team has won tens of millions of users, bringing the world's 1st unrestricted mobile voice over IP, the 1st mobile Video over IP, and just last month, the 1st mobile Group Video over IP. And we're just getting started."
Shechter continued, "With the additional fuel injection from our visionary industry investors, in addition to our independent revenue streams, fring will re-double the rate at which we make fun, new ways we can all communicate, across any mobile platform."
Current investors participated in this round including North Bridge Venture Capital, Pitango Venture Capital & Veritas Venture Partners.
"fring is revolutionizing mobile communication. They are the clear technical leader and have a track-record of delivering addictive mobile experiences, building a compelling brand while delivering aggressive revenue growth." Said Jamie Goldstein, General Partner from Boston based North Bridge Venture Partners. "fring is now the leading pure play in this explosive mobile IP communication space."
fring offers free mobile Group Video calls, Video calls, calls & live chat on all major Smartphones on any connectivity (3G,4G, WiFi). With fringOut, fring users can also call any regular phone worldwide, starting from 1c/minute.
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fring (www.fring.com) is a mobile communication service that gives users rich, fun communication from their mobile phones. fring users make free Group Video calls, video calls, voice calls and chat.
Users can also make calls to any landline or mobile phone worldwide from 1c/minute using fringOut.
fring leverages the mobile phone's internet connection to create these communication experiences. fring is available on all major Smartphones (including iPhone/ iPod touch, Android and Nokia), on any mobile operator, and any mobile internet connection (3G/4G, WiFi, GPRS, EDGE).
fring continues to grow exponentially with tens of millions of users in more than 200 countries, adding more than a million new Smartphone users every month.
fring® fringster™ fring™ logo and the DVQ™ are all trademarks of fringland Ltd.
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