It claims to be a pioneer in Multiscreen as a Service (MaaS) integrated services platform and the ease with which it is raising funds, it would seem investors, too, are completely convinced of its potential.
Phunware today announced it had raised US $26.25 million in Series E funding led by Firsthand Technology Value Fund. The balance of the oversubscribed US $30 million funding round was expected to close in the next 60 days.
Announcing this in a press release, Phunware said the initial closing of the round included additional investment by current investors Fraser McCombs Ventures, Maxima Ventures, Wild Basin Investment and the Central Texas Angel Network (CTAN), as well as new strategic investors Cisco and WWE (NYSE: WWE). The investment brings the total funds raised so far by Phunware to US $43M. With the investment, Kevin Landis, Chairman and President of Firsthand, and Chase Fraser, Managing Partner of Fraser McCombs Capital, join Phunware’s board of directors.
Founded in 2009, and headquartered in Austin, USA, Phunware closed 2013 with revenues of US $22.1M. The company currently supports more than 1 trillion annual transactions on its “multiscreen cloud platform” across nearly 190 countries and 10 languages. Phunware, The Software of Things, is ranked 36th on the Forbes list of America’s Most Promising Companies, and 40th on the Inc. 500 list of America’s Fastest Growing Companies.
The company’s client list is admittedly quite impressive – E! Entertainment Television, NBC Sports, WWE, NASCAR, CBS, Qualcomm, Edmunds, Jawbone, HomeAway, Turner, UHealth, Transamerica, King, Warner Brothers, AT&T and Adobe, among others.
“We continue to have a very ambitious vision for Phunware – to enable our customers to engage, manage and monetize every connected device on Earth,” commented Alan S. Knitowski, Chairman, CEO and Co-Founder of Phunware.
Image Credit: Phunware
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