Startup Gigs, which sells a platform for other companies to launch MVNO services, said it scored $73 million in a Series B round of venture funding led by Ribbit Capital. #pressrelease
December 12, 2024
Gigs, the operating system for mobile services, today announced that it has raised a $73M Series B led by Ribbit Capital. All existing investors, including Google's Gradient, YC and Speedinvest participated in the round. Gigs will use the funding to expand its geographical footprint and invest in an expanded suite of products and services for tech companies. This will enable more tech brands to meaningfully innovate in telecom, provide more value to their customers, and tap into a new recurring revenue stream.
Before Gigs, high barriers to entry kept the telecom industry closed-off to innovators. New entrants faced years of tough commercial negotiations with carriers and had to pour tens of thousands of engineering hours into navigating the messy patchwork of single-purpose vendors with archaic, fragmented operating systems. Engineering teams had to wrestle with clunky, unstable and inconsistent APIs from multiple carriers—like building tech from the early 2000s—all just to enter one market.
Read the full press release here.
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