$18 Million in Series D Financing Brings textPlus' Total to $46 Million
December 17, 2012
By Frank Griffin
, TMCnet Contributing Writer
The Internet has changed the telecommunications business by bringing with it more than just voice. In fact, SMS is so popular that many don’t even bother to talk, instead preferring to text the vast majority of the time. Although textPlus, originally GOGII, was primarily a text-based service, the new funding it recently received will allow it to offer end-to-end mobile communication services.
As network bandwidths increase and data plans become cheaper, it only makes sense to see SMS and voice eventually being replaced by video communication in the foreseeable future. The $18 million funding comes from the Raine Group, an investor with telecommunications and media investment involvement.
The company’s network connects more than 110 million people around the world with its application on the Android (News - Alert), iOS and Windows based smartphones, tablets and other devices such as the iPod touch. The company is seeing strong growth in the North American market, with more than 20 million downloads of its application in 2012. In fact, the company changed its name to textPlus after experiencing this growth and receiving the funding.
Ultimately, the goal is to maximize the potential of smartphones and tablets so they can be used as a full communications tool not only for local and national calls, but to cushion the rapidly increasing international communications needs of individuals and organizations. It offers Android users rates of only two cents a minute to any landline or mobile international numbers for their US and Canadian users. The company claims their rates are up to 10 times cheaper than the traditional international calling rates for every minute. Even more, if you are calling to other in-network users of textPlus the calls will be free no matter where you call.
The platform gives users their own phone number, which can be used to turn any connected device into a phone, meaning you don’t need a service from a telecom to start using telephony functions on your device. A tablet, laptop or any other mobile computing device with wireless capability can use textPlus, and the service works on 3G, 4G, Wi-Fi and LTE (News - Alert) with the Android. Many of its features are also available for the iOs, with major updates and upgrades making their way in 2013.
Edited by Allison Boccamazzo