Skyroam, a San Francisco, CA-based provider of a personal Wi-Fi hotspot for travelers, closed a $23.5M Series B funding round.
The round was led by Lenovo Group, with participation from CBC Capital, GSR Ventures, Vickers Venture, and other private investors.
The company intends to use the funds to expand its global mobile data presence, grow its channel distribution partnerships with travel-related companies including travel agencies, airport retailers, airlines and device rental companies, and to continue licensing its vSIM technology to device manufacturers.
Led by CEO Jing Liu, Skyroam provides a mobile hotspot that allows travelers to connect in 65 countries without dealing with roaming charges, unlocking phones, unsecure public Wi-Fi, complicated metered data schemes, or local SIMs or SIM stickers. After getting a Skyroam hotspot device with five complimentary daypasses, travelers purchase daypasses as needed for only $8 per day, allowing them to connect up to five devices online with zero roaming fees. The service is contract-free, so customers can connect on a pay-as-you-go basis.
Thanks to patented virtual SIM (vSIM) technology that automatically connects users to a local carriers for unlimited daily usage, Skyroam delivers instant access to mobile Wi-Fi in Asia, Europe, America, Middle East, Africa and South Pacific.
FinSMEs
05/08/2015