SAN FRANCISCO, Calif.-Mobile virtual network enabler Visage Mobile accumulated $30 million in Series D funding, bringing the total capital raised by the company to more than $80 million. Visage said it plans to use the new funding to expand its platform capabilities that enable consumer brands to enter the wireless market, and to line up new customers.
Venture capital group Nomura International led the round. All of Visage’s previous venture capital backers participated in the round, including Worldview Technology Partners, Mobius Venture Capital, Advanced Technology Partners, Vesbridge Partners-formerly St. Paul Venture Capital-Emergence Capital Partners and Selby Venture Partners.
Matt Johnson, chief executive officer of Visage, noted analyst estimates that mobile virtual network operators could capture as much as 20 percent of the U.S. wireless market in the next five years-and have the potential to generate more than $25 billion annually.
“Having dedicated more than $80 million to building the premiere MVNO-enabling platform and deploying it for multiple customers and with multiple carriers, we are poised to add additional subscribers as the MVNO market continues to gain traction in the U.S.,” Johnson said.
