Noble Mobile has officially launched its first mobile offering, which is designed to promote mental wellness among its users. The company has raised an impressive $10 million in seed funding, gathering support from well-known figures such as Andrew Yang and Scott Galloway, alongside backing from Corazon Capital.
Noble Mobile is on a mission to empower individuals to reduce their phone usage while receiving rewards for doing so. What sets this mobile carrier apart is that it is the first to financially incentivize customers for using less data. This initiative is supported by a $10.3 million seed round led by Corazon Capital.
The company was founded by Andrew Yang, an entrepreneur and former presidential candidate, who has assembled a team of influential business leaders to support his vision. Among these leaders is Scott Galloway, a professor at NYU Stern and bestselling author. Noble Mobile has also attracted investment from a variety of notable firms, including Circle Ventures, Idea Fund Partners, Oversubscribed Ventures, Hustle Fund, Brown Angel Group, Acquired Wisdom Fund, Jim McKelvey, who is the founder of Square, and David Ko, the CEO of Calm and a board member at NYU.
In 2024, Americans are expected to spend around $166 billion on their mobile phone plans, averaging out to approximately $1,152 per person each year. Major mobile carriers are pouring over $18 billion annually into shareholder dividends while simultaneously spending vast amounts on marketing and physical storefronts. While these expenditures may benefit a small group of investors in mobile carrier stocks, the reality is that most Americans are facing overcharges for mobile coverage. This service is essential in their daily lives. Frequently, these overcharges manifest as fees tied to unused data on unlimited plans.
Noble Mobile introduced the “No-Bull Plan,” a straightforward and transparent alternative to traditional mobile services. Customers who utilize less than 20 gigabytes of data each month can earn cash back rewards. This cashback can increase each year, allowing members to benefit even more from their conscious phone usage.
With Noble Mobile, users also receive unlimited 5G data, supported by the T-Mobile network, ensuring they have access to unlimited talk, text, and high-speed data. The plan features transparent monthly pricing, eliminating the confusion of contracts or hidden fees. Privacy is a priority at Noble Mobile, and the company is committed to protecting user data, with a firm assurance that personal information will never be sold to third parties.
Additionally, Noble Mobile offers tools that help members monitor and manage their screen time, promoting more intentional and mindful use of their phones. The longer members stay with Noble, the more they earn in cash back rewards. They also have access to loyalty perks that enhance various aspects of their lives, including financial well-being, physical and mental health, and community involvement. Members can enjoy discounts at premium brands that align with Noble’s mission to counteract unhealthy habits and encourage better relationships with technology.
The launch of Noble Mobile capitalizes on a growing consumer demand for brands that prioritize ethical practices and value-driven services. This model allows the company to concentrate on its innovative approach, focusing on member satisfaction without the burden of extensive infrastructure costs.
Noble Mobile is currently inviting individuals to become part of its Founding 10,000 Members. Early adopters will receive rewards as the company grows, gaining early access to cash rewards, exclusive benefits, and opportunities to help shape the future of mobile services.
KEY QUOTES:
“For years, the focus of my career has been to build a human-centered economy to improve the lives of Americans. During my presidential run, I advocated for UBI. During the COVID-19 pandemic, I lobbied Congress for cash relief and data ownership. The reality was that these approaches require government action, which happens too slowly. I wanted to instead take action to lower the cost of something Americans use every single day, and I realized that there was a way to do that in the telecommunications industry while also tackling issues plaguing our country, like the impact mobile phone addiction and social media are having on our mental health.”
Andrew Yang, CEO of Noble Mobile
“Noble Mobile flips the classic telecom model by rewarding users for less data usage. It’s transparent, it’s fair, and it’s exactly what consumers deserve. I’m excited to back this disruptor.”
Scott Galloway, a leading voice in business and technology and an investor in Noble Mobile
“For most Americans, their mobile phone bill is one of their top five recurring expenses. However, mobile carriers provide a commodity product to consumers, who are stuck between overpaying for a high-priced plan or using a discount brand with hidden fees and overages. Furthermore, consumers get little tangible value from their mobile carriers. Noble Mobile changes the game. It, of course, provides high-quality mobile coverage, but it is also the first and only brand where consumers can expect more from their mobile carrier: Noble Mobile will reward members with cash back for unused data, and provide them opportunities to grow their rewards over time. This can not only help consumers save more and more over the life of their phone plans, but also drive consumers to unplug and use their phones a bit less — a motivation that all of us can agree is beneficial.”
Phil Schwarz, Partner at Corazon Capital
