Skyroam Closes $23.5 Million Series B Round Led by Lenovo Group
Now with $25 Million in Total Funding the Company Will Expand Distribution of its Mobile Hotspots and On-Demand Global Wi-Fi Platform
August 6, 2015 – Skyroam, the technology company that enables travelers to stay connected around the world with its personal Wi-Fi hotspot, is announcing that it has closed a Series B funding round totaling $23.5M led by Lenovo Group, with participation from CBC Capital, GSR Ventures, Vickers Venture, and other private investors. The company will invest in expanding its global mobile data footprint, delivering value-added services to travelers, and growing its channel distribution partnerships with travel-related companies including travel agencies, airport retailers, airlines and device rental companies.
Today a reliable mobile connection is an integral part of our lives and travelers expect to keep their gadgets online as they roam the globe. With Skyroam’s mobile hotspot travelers have freedom to connect in 65 countries without dealing with hurdles such as expensive roaming charges, unlocking phones, unsecure public Wi-Fi, complicated metered data schemes, or fiddling with local SIMs or SIM stickers.
We have all read horror stories of travelers returning home to phone bills in the thousands of dollars. Skyroam provides a secure, fast, and reliable personal hotspot that lets them avoid crazy international roaming costs. After getting a Skyroam hotspot device with five complimentary daypasses, travelers purchase daypasses as needed for only $8 per day, allowing them to connect up to five devices online with zero roaming fees. And, the service is contract-free, so customers can connect on a pay-as-you-go basis.
Skyroam is the only single solution that delivers instant access to mobile Wi-Fi in Asia, Europe, America, Middle East, Africa and South Pacific, which is made possible by its patented virtual SIM (vSIM) technology that automatically connects you to a local carriers for unlimited daily usage.
When a traveler steps foot in a new country, the Skyroam hotspot automatically switches to a local carrier without the need to configure SIMs in your smartphone or hotspot. Unlike solutions requiring roaming SIMs, local SIMs, or SIM stickers, Skyroam does not require complicated configuration or unlocking of smartphones to work. And unlike connecting to risky open public Wi-Fi, the Skyroam Hotspot is secure to help prevent malware infection and data loss.
“We are making a strategic investment in Skyroam, not only because they are the clear leader in the mobile Wi-Fi segment in China, but also because Skyroam’s vSIM technology can enable Lenovo’s mobile devices to better serve our global customers and deliver mutual benefit to both companies in the mobile Internet market,” says Lenovo’s Senior Vice President, Qiao Song.
With the latest funding round, the company intends to continue licensing its vSIM technology to device manufacturers, giving them access to Skyroam’s global on-demand data network. OEMs, ODMs, chip manufacturers, MVNOs and IoT module makers can all benefit from Skyroam’s vSIM technology.
“We believe people should be able to travel the world freely and connect all their devices without worrying about costs,” says Skyroam CEO, Jing Liu. “Our hotspot gives on-demand coverage in over 60 countries at very competitive prices, making us the best and easiest way to get online when traveling for business or leisure. Now’s the time to build on our technology platform and strategic partnerships to better serve travelers with the ultimate global connectivity solution.”
Skyroam was founded in Silicon Valley by technology veterans who have identified a common point of pain among fellow business travelers: getting a fast, secure, reliable mobile internet connection while on the road is a challenge. To help travelers stay connected while overseas Skyroam developed and patented its virtual SIM (vSIM) technology that delivers a local wireless data connection from carriers around the world, on demand. Skyroam’s global hotspot, embedded with a vSIM, enables secure, cost-effective global internet service with unlimited mobile data in over 60 countries. Skyroam’s vSIM technology also provides managed global mobile data access to IoT, M2M and wearables applications.