Fring Raises $10 Million
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Fring is a mobile communications startup that aims to compete against Microsoft’s Skype. Fring has raised $10 million in Series C funding from existing investors. This brings the company’s total funding to $30 million.
Fring’s annual revenue run rate is at about $10 million. Fring is adding about 1 million activations per month and is doing about 10 million video call minutes per month. Over 100 million voice minutes are being used through Fring per month. Fring’s earlier investors include North Bridge Venture Capital, Pitango Venture Capital, and Veritas Venture Partners.