MarketSpark Raises $7M in Series B Financing

MarketSpark, a San Diego, CA-based provider of managed wireless services for POTS (Plain Old Telephone Service) replacement, completed a $7m Series B round of financing.

The round was led by IDT Corporation with participation from existing and new investors Goldie Group, and Klein Enterprises. The company also announced the addition of Shmuel Jonas, CEO of IDT Corporation, and Daniel Klein, CEO of Klein Enterprises to join MarketSpark’s Board of Directors.

The company intends to use the funds to accelerate growth and scale its sales, marketing and platform development efforts.

In partnership with the major carriers, MarketSpark already services 35 Fortune 500 companies as they upgrade telecom equipment to deliver new wireless connectivity across their nationwide footprint.

Led by Jeff Gower, CEO, and Jake Jacoby, CTO and Co-founder, MarketSpark is a provider of POTS replacement solutions for the enterprise. Its cloud enabled platform helps companies replace static copper telephone lines (POTS) with a managed wireless solution that is 5G ready.

Key features include:

  • Cloud PaaS (Platform as a Service)
  • Hardware as a service offering (HaaS)
  • Proactive system alerts and notifications
  • Remote diagnostics and resolutions
  • 4G optimized and 5G ready routing equipment
  • UL and FCC approved hardware
  • Fail safe redundancy

In addition, the transition from POTS lines to the MarketSpark solution simplifies the connectivity issues for large enterprises who often have to manage multiple carriers across multiple states and jurisdictions. With MarketSpark, the enterprise deals with one vendor responsible for the end-to-end solutions from planning to installation to on-going operation and maintenance.