Phone.com has announced completion of a $2 million funding round led by ff Venture Capital with participation from the New Jersey Economic Development Authority’s Edison Innovation Venture Capital Growth Fund.
The company, which offers telecommunications services tailored for businesses, says it will use the money for customer base growth, additions to the marketing and sales teams, and “new technology development”.
Additional investors in the company include TierraNet and Michael Mann.
Phone.com got its start in 2007 and is ranked #8 on Inc.com’s list of top telecommunication companies. It touts its 24/7 customer support as one of its selling points.
CEO Ari Rabban said in a statement that ff Venture Capital had provided “advice, support and acceleration services on an ongoing basis” in addition to the capital. ff Venture Capital board member John Frankel said Phone.com’s potential for continued growth made it easy to provide the funding.
The New Jersey Economic Development Authority’s (NJEDA’s) investment is part of a state fund created in 2011 to provide local technology companies with growth capital for “hiring key staff, product marketing and sales.”
Rabban took the opportunity to reiterate the company’s commitment to the state: “We fully intend to flourish here in New Jersey and we are deeply committed to showing the NJEDA’s decision-makers that they made the right choice by investing in Phone.com.”
Image credit: Comstock
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