US telecom firm ItsOn nabs $12.9M to make data plan more flexible
ItsOn Inc has raised $12.9 million in a new funding round to add flexibility to data plans. Based on a Form D filed with the US Securities and Exchanges Commission, the company is raising $20 million for this round, with two investors already signed on, according to VentureBeat.
The Redwood City-based company wants to change the way wireless data networks handle the demands of their customers. In May 2013, ItsOn launched Zact, a tool that lets smartphone users customize their data usage in real time. This helps people configure the size of their plan and share it with other people for free. Allowed apps, curfews, and contacts can also be personalized, the report detailed.
ItsOn is currently looking to add more features to its services. The company could later on allow brands to avail of free data if it is used for their app. The data could be used to stream YouTube videos, the report added.
Founded in 2008 by Gregory Raleigh and Charles Giancarlo, ItsOn emerged from stealth mode in October 2012. The telecom services provider is currently headquartered in Redwood City, California, VentureBeat reported.