textPlus, a Marina del Rey, California-based provider of free mobile communications, has raised $18m in fourth funding.
The round was led by The Raine Group, with participation from existing investors Kleiner Perkins Caufield Byers, Matrix Partners and GRP Partners.
The company intends to use the capital for international expansion, product development and strategic acquisitions.
In conjunction with the funding, John Salter, Partner at The Raine Group, has joined textPlus’ board.
Launched in 2009 by CEO Scott Lahman, the company enables free and low-cost calling services globally. Its app is available for iOS, Android and Windows smartphones and devices including iPod touch and tablets.
In addition to the financing, textPlus has also acquired Los Angeles-based startup Jarvus, a developer of an app that helps people capture and share experiences, events and moments together. Jarvus CEO Chris Vaughn and CTO Raymond Jia will join the company’s team, helping lead business development and product development.
FinSMEs
16/10/2012