FreedomPop, a Los Angeles-based mobile services provider, raised $30m in Series B funding.
The round was led by Partech Ventures with participation from DCM Capital, Mangrove Capital. A new strategic investor, not part of the initial tranche, will be announced separately. In conjunction with the funding, Mark Menell, a general partner at Partech Ventures, joined FreedomPop’s board of directors.
The company intends to use the funds to accelerate its growth in the U.S., scale its operation and expand its free mobile service in more markets.
Led by Stephen Stokols, founder and CEO, FreedomPop provides a suite of devices, services, and social sharing and incentive benefits for consumers to get access to free high-speed Internet and mobile phone services worldwide.
Since the launch of its free phone service 18 months ago, the company has upended the U.S. mobile market by introducing free mobile voice services along with offers such as data rollover, Wi-Fi first calls on a nationwide Wi-Fi network, free international calling plans, etc.
In May, FreedomPop announced the launch of U.K.’s first free mobile phone service, available later this summer, and expects to expand further into Europe later this year. It also launched Jetsetter, a global SIM that offers free service that will be initially available in the UK, Spain and France.