ItsOn raises $12.5 million in Series C funding
ItsOn is a startup that has raised $12.5 million in Series C funding from new investor Tenaya Capital and existing investor Andreessen Horowitz. ItsOn has developed a cloud-based mobile services platform that is sold as a B2B and B2C product. This funding round will be used for global sales expansion. ItsOn has now raised over $40 million in funding total.
ItsOn’s consumer product is called Zact and it serves as a data services function that is more than a “bit pipe.” Zact can be used for implementing application-based paid or sponsored plans. It can also control and upsell tethering, roaming, speed boosts. ItsOn can maintain plan purchasing, management, and parental controls.
“We are now selling our SaaS platform services to large, global mobile operators and our company has transitioned from startup to revenue-growth stage,” stated ItsOn founder, CEO and Chairman Greg Raleigh. “We are thrilled to partner with the very experienced and successful team at Tenaya to build our company. The purpose of this financing is to accelerate the market launch for our cloud-based virtual OSS and BSS platform and grow our mobile operator customer revenues in Europe, Asia, Middle East and South America.”