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FreedomPop raises additional US $5 million

July 11
1:02 PM 2013

FreedomPop, a leading internet provider, confirmed that it received additional US $5 million financing that would aid in the company's expansion endeavor. This development brings the company's total funding to US $16 million.

"We are growing fast and this new round will help accelerate growth further and provide the best product and customer experience possible to our users," said Stephen Stokols, FreedomPop's CEO, in a statement.

"We will also use these funds to increase our smartphone inventory ahead of our Android phone launch in the coming months," Stokols added.

FreedomPop, which was established in 2011, is supported by DCM, Mangrove Capital and Atomico, a company owned by Skype founder Niklas Zennstom.

Additionally, FreedomPop also confirmed the inclusion of Chris Rogers, Nextel's co-founder, as a member of its board of advisor. He joins Gavin Patterson, BT Group's CEO, as the company's advisor.

"Having access to advice from well-respected figures in the telecoms industry is invaluable as we continue to innovate and disrupt the sector," Stokols commented.

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