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.