Freenom raises $3 million in Series A
Freenom is a free domain name provider that has raised $3 million in Series A funding led by Kima Ventures (KIMA). KIMA is one of the most active angel investor groups in the world. Freenom will be using the funding to expand top level domain management operations. The funds will also be used for expanding their AnyCast cloud network and develop commercial initiatives.
“Our current partners are very committed to the free domain name idea and industry,” stated Joost Zuurbier, CEO & Founder of Freenom. “We are pleased to work with KIMA and the other members of this investment group to accelerate our growth and to expand our technology and presence online.”
Freenom manages registry operations for the TK (Tokelau), GA (Gabon), CF (Central African Republic) and ML (Mali) top level domains. Freenom has over 20 million active domain names.
Freenom generates revenue from selling expire domain names. When domains are no longer used by the registrant, Freenom retains then and sells them. Residual traffic is sold to ad companies. Additional revenue is generated by offering digital white labeled services like hosting and SSL certificates.