Visage Mobile closed $30 million in a fourth round of funding on Tuesday, led by Nomura International, bringing the total investment in the wireless technology provider to $80 million.
Existing investors also joined the latest funding round for the company, which provides technology for privately branded mobile virtual network operator (MVNO) services.
Those investors include Worldview Technology Partners, which led the third round of funding pf $22.8 million, along with Mobius Venture Capital, Advanced Technology Partners, Vesbridge Partners (formerly known as St. Paul Venture Capital), Emergence Capital Partners, Palisades Ventures, and Selby Venture Partners.
MVNO services have been growing in popularity and revenue. For example, Virgin Mobile received a $1.4-billion acquisition offer Monday from British cable operator NTL (see NTL Bids for Virgin Mobile).
NTL Bids for Virgin MobileCompanies like Walt Disney have also been planning to launch their own MVNOs (see Disney Plans Cellular Service).
Disney Plans Cellular Service“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 U.S.,” said Visage Mobile CEO Matt Johnson.
Andrew Healey, head of Nomura’s technology private equity practice, said his firm was pleased to invest in the San Francisco-based company to “share in the expansion of wireless services in the U.S. to currently underserved sectors.”