New York, NY — July 20 — US Mobile, an industry-leading mobile virtual network operator (MVNO), today announced the close of its $11.5M Series A funding round from Boston growth equity firm Volition Capital.
US Mobile offers some of the industry’s most customizable and competitive plans, including its recently launched Pooled Plans that enable customers to share data from a single pool for an unlimited number of devices. Customers can easily set up a plan and assign lines into a Pool in just minutes. This plan works great for families and small businesses and lays the groundwork for mixed-device plans that support any type of device from phone, tablet, home WiFi, connected car and more on a single unified software platform.
Established in 2015, US Mobile has scaled rapidly to become a category-leading wireless services provider that allows customers to craft wireless plans specific to their needs and provides high-touch customer service at a lower cost. As a technology innovator, US Mobile has invested heavily in front-end customer experience, as well as a flexible back-end that enables the company to make fast and scalable product iterations based on evolving technology and consumer preferences.
Due to its flexible services and superior customer experience, US Mobile has gained significant market traction and sustained organic growth with low churn and customer acquisition cost. The company was ranked 94th in the Inc 5000’s fastest growing private companies with a 3,388% revenue growth over its first 3 full years of existence. The company has continued to grow through the pandemic by adding more than $10MM in ARR, scaling a 6-figure subscriber count, and tripling its staff count. This funding will be used to accelerate growth and support new offerings, including the planned launch of eSIM services. eSIM technology (embedded SIM) enables customers to change mobile carriers digitally by, for example, scanning a QR code, thus reducing the friction of having to swap a physical SIM card or visit a physical retail store.
“As connectivity continues to change the world, we saw that the legacy telecom industry was ripe for change in customizability, design, and customer experience,” said Ahmed Khattak, founder and CEO of US Mobile. “As we look ahead to the trends of more connected devices, 5G technology, and IOT, this investment will enable us to build innovative features and meet the evolving consumer needs that will dominate the 21st century.
With this investment, US Mobile will continue to innovate its UX and software stack, expand into new and emerging connected device markets, and provide the most flexible ‘build-your-own’ custom data plans for customers. The company’s asset-light model is well-positioned to meet shifting consumer needs driven by the on-demand economy and advent of eSIM and 5G technology.
“Great consumer businesses are built by delighting customers and consistently exceeding expectations for both products and services, said Larry Cheng, Co-founder and Managing Partner at Volition Capital. “Following that model, we envision US Mobile becoming the disruptive leader in the mobile industry by offering millions of consumers control of their own wireless service plan, superior customer service, and a lower price than their current providers.”
For more information about US Mobile visit https://www.usmobile.com/.
About US Mobile
US Mobile is a hybrid network operator that provides plans perfect for friends, family and businesses with innovative products with exceptional customer service. The company offers unrivaled value and flexibility with a variety of build-your-own Custom Plans starting as low as $4/month, Pooled Plans, and Unlimited All family plans. US Mobile also offers industry-leading features like detailed usage analytics, eSIM data roaming in over 140 countries, and multiline perks. More information can be found at https://www.usmobile.com/.
About Volition Capital
Volition Capital is a Boston-based growth equity firm that principally invests in high-growth, founder-owned companies across the software, Internet, and consumer sectors. Founded in 2010, Volition has over $1.1 billion in assets under management and has invested in over 30 companies in the United States and Canada. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses. For more information, visit http://www.volitioncapital.com or follow us on Twitter @volitioncapital.