When it comes to mobile service providers, large enterprises like AT&T, T-Mobile and Verizon have dominated the sector for years. Boston-headquartered Reach Mobile, on the other hand, was founded with the intent to disrupt the norms set by large providers by offering cost-effective services with no contracts.
On Monday, Reach Mobile pulled in $8 million in an extension of its two-quarter funding round. The extension was led by Graham Holdings Company and brings the startup’s total funding for the round to $16 million. Reach Mobile has raised $35.6 million in funding to date.
Reach Mobile provides wireless, network-based services, broadband, failover internet and more to 40 million users across 75 countries. Alongside announcing its fresh funding round, the company also launched ReachNEXT, a SaaS platform that helps accelerate and streamline how companies bring network-based services to market.
“ReachNEXT is built on the premise that cloud-native and software-defined networks will redefine how networks are leveraged and drive new monetization opportunities for carriers, solution providers and enterprises,” Reach Mobile CEO Harjot Saluja said in a statement. “It’s our mission to make network-based services quicker to launch and easier to manage, and we believe the entire mobile ecosystem stands to benefit.”
Saluja told Built In via email that the company plans to invest its latest capital in its technology, product and account management. Additional funding will go toward hiring for 60 to 100 roles in Boston as well as the company’s headquarters in India.
