Funding round was led by venture capital firms Lightspeed Venture Partners and Pitango Venture Capital

August 4, 2009

1 Min Read

WILMINGTON, Del. -- WeFi Inc. (www.wefi.com), creator of the world’s largest community-based global Wi-Fi network, announced today that it has secured an undisclosed amount of second round funding. The funding round was led by venture capital firms Lightspeed Venture Partners and Pitango Venture Capital. The funding will support WeFi’s business and financial needs, and is being allocated toward expanding development, marketing efforts, and strengthening strategic business partnerships.

The financing round continues an eventful year thus far for WeFi, which has announced a number of new launches over the last few months, including a version of its software for the Google Android mobile operating system, an integration with mobile VoIP provider fring, the launch of WeROK - a mobile entertainment and communications portal powered by WeFi’s community-generated Wi-Fi network, and the opening of WeFiApps, a Wi-Fi powered application store for data-intensive mobile applications.

After having established itself as a leader in bringing open Wi-Fi hotspots to people around the world, WeFi has in the past year significantly penetrated the mobile market as well, making finding and connecting to a Wi-Fi hotspot easy for mobile users. WeFi automatically connects the user to the best connection available, as opposed to the tedious, multi-step process that previously existed. WeFi always seeks to connect users to Wi-Fi access points where Internet access has already been verified by other WeFi-enabled devices – dubbed “community-verified spots” - in a growing network of 30 million access points recorded. In addition, WeFi recently released its first generation of carrier-grade solutions for offloading mobile Internet traffic from congested 2G, 3G and in the future 4G networks onto Wi-Fi access points.

WeFi was established in February 2006. The company is incorporated in Delaware, U.S. with R&D facilities in Israel.

WeFi Inc.

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