ItsOn Picks Up Another $12.5 Million as It Tries to Change How Mobile Services Are Billed
Shutterstock / Ryabitskaya Elena
Redwood City, Calif.-based ItsOn has raised another $12.5 million in funding to continue its quest to allow mobile operators a more customizable way to offer options to customers.
The funding was led by Tenaya Capital with existing investor Andreessen Horowitz also joining in. The company’s vision is to offer cellular carriers the option to deliver, say, unlimited email along with an hour of mobile video, as opposed to traditional data limits. ItsOn also allows options to be changed on the fly, as well as parental filtering by content type.
“Our company has transitioned from startup to revenue-growth stage,” ItsOn CEO Greg Raleigh said in a statement. The company has also launched its own cellular service using its product and Sprint’s network under the Zact brand.
One of the big questions for ItsOn will be whether its premise remains of interest to carriers, many of which have now transitioned their business model to focus on selling data as a large bucket that can be shared among various devices. Consumers, who once struggled to get a handle on how much data that they are using, have also become more savvy in recent years.
The company has raised $40 million in total funding, including $15.5 million in Series B funding from Andreessen Horowitz, SV Angel and others. Prior backers include Vodafone Ventures and Verizon Investments.