More Cash for MVNO Vendor

Visage Mobile, which provides MVNO platforms, says that it has closed US$30 million in series D funding led by Nomura International, bringing its total capital raised to more than US$80 million. All of its previous investors participated in the D round. Visage Mobile's suite of technology and services is currently enabling three MVNOs, and the company plans to make additional client announcements in the near future.

The Besen Group, an independent management consultancy, recently named Visage Mobile as the first "Total Solutions Provider" among 11 companies it evaluated as the top MVNEs in North America.

"We are thrilled to see the continued endorsement of our market and our business model by the investment community, as evidenced by this strong D round funding," said Matt Johnson, CEO of Visage Mobile. "Having dedicated more than $80 million to building the premiere MVNO enabling platform and deploying it for multiple customers and with multiple carriers, we are poised to add additional subscribers as the MVNO market continues to gain traction in the US."

Johnson highlighted analyst estimates that MVNOs could capture as much as 20% of the overall US wireless market within five years, generating more than US$25 billion in annual revenue. Visage Mobile will use the new funding to expand platform capabilities and deploy it for additional customers.

"Nomura believes Visage Mobile has set the standard for MVNO enablement services, and has created an exciting growth business," said Andrew Healey, head of Nomura International's technology private equity practice. "We are pleased to contribute to its growth and share in the expansion of wireless services in the US to currently underserved sectors."

Posted to the site on 7th December 2005