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Funding for startups

FreedomPop Gets $4.3M

FreedomPop -- the mobile broadband start-up that offers its customers some free data each month -- has grabbed an additional $4.3 million in funding. The Los Angeles-based company is calling the new money "a Series A1 from existing investors" DCM and Mangrove Capital. It has now garnered $11.2 million in total funding since 2011. The company is also opening up new ways for FreedomPop users to share unused bandwidth with their social network. "If I need more data this month while my friend doesn’t, I should be able to share it and vice versa," proclaims Stephen Stokols, FreedomPop’s CEO, in a statement. Additionally, FreedomPop users will now receive 50MB per user they refer and be able to connect to users via Twitter and Facebook. Why this matters
FreedomPop is one of the key companies taking on the existing models of delivering mobile broadband with free and cheap data for a youth-oriented market. Additional funding will help as the company's attempts to expand. For more — Dan Jones, Site Editor, Light Reading Mobile

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