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With More than One Million Downloads in the Past Nine Months, Flyp Announces $5.8M Seed RoundFlyp, a U.S.-based telecommunications company, today announced that it has raised $5.8 million in seed funding from institutional investors in Silicon Valley and prominent East Coast investors. With more than one million downloads globally over the past nine months, Flyp is helping consumers take control over their mobile communications. The Flyp communications app allows users to create and own multiple phone numbers for each aspect of their life - all on one mobile device. Because Flyp uses existing cellular networks, users receive the highest call quality and text reliability available today and can call any number in or out of the Flyp network. Flyp also provides international customers with a real U.S. phone number on their device for the most reliable, highest quality calling and texting to the United States - for free. The Flyp app is available in the App Store for iOS users and on Google Play for Android (News - Alert).
Freelancers, Entrepreneurs and SMBs Flock to Flyp
Managing Your Mobile Life with Flyp
"We're building a modern telecommunications company that addresses consumers' two biggest communications concerns: quality and cost," said Peter Rinfret, Flyp co-founder and CEO. "The traditional telcos deliver the quality, but at a super high cost. The OTT companies deliver affordability, but often lack reliability and have limited reach. Flyp has engineered a completely new platform that takes advantage of the quality and openness of the traditional telco infrastructure, while operating on OTT-like economics. The result is a low-cost service that delivers exclusive features and functionality with unmatched call quality." The $5.8 Million seed round was raised from institutional investors in Silicon Valley and prominent East Coast investors. Investors include, amongst others, Aspect (News - Alert) Ventures, Acorn Ventures, Structure Capital, MAG Ventures, Morningside Technology Ventures, Russell Simmons, and Jeffrey Parker. The funds are being used to refine the user experience, expand business quality features and launch the service in an additional 30 countries in 2016. "We've been deeply impressed by the rapid organic growth that Flyp has achieved in a short period of time. We think their differentiated technology coupled with the market validation they're already getting puts them in a unique position to change mobile communications," said Jennifer Fonstad, Founder at Aspect Ventures.
About Flyp
View source version on businesswire.com: http://www.businesswire.com/news/home/20160201005174/en/ |