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ISkoot Raises $7M

iSkoot has secured $7 million in Series B financing

February 27, 2007

2 Min Read

CAMBRIDGE, Mass. -- iSkoot, the leading provider of mobile Internet communications solutions, today announced that it has secured $7 million in Series B financing. iSkoot has become the leader in mobile VoIP solutions, recently working in close partnership with Skype to enable The 3 Group to become the first mobile operator to bring Skype-enabled mobile phones to consumers. iSkoot software was pre-loaded onto Nokia and Sony Ericsson handsets used by The 3 Group to launch the industry's first mobile Skype service.

The round was led by Charles River Ventures and includes previous investors Khosla Ventures, ZG Ventures, and Jesselson Capital Corp. As part of this funding round, Izhar Armony, a general partner at Charles River Ventures, will join iSkoot's Board of Directors and lend his considerable expertise to developing and delivering new media products into high-growth markets. This financing follows a previous a $6.2 million Series A round of funding, bringing funding to a total of $13.2 million in the past year. iSkoot will use the funding to expand its sales, R&D and marketing efforts, and further establish its leadership position in the emerging mobile Internet communications market.

"We believe that a mobile solution for Internet calls will become a major new way for people to communicate, and iSkoot is at the vanguard of this movement. The iSkoot management team has deep industry knowledge and a long and successful entrepreneurial track record in streaming digital media; we bought into the team's mission to free Internet calling from the PC and make it ubiquitous," said Izhar Armony, general partner, Charles River Ventures. "iSkoot offers mobile operators a field-tested solution and a powerful new way to communicate, by allowing them to participate in the exploding volume of Internet calls. We look forward to working with iSkoot management to bring more visionary mobile products to this very promising market."

iSkoot

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