"Techcrunch" reports that smartphone messaging company Fring Ltd. has raised $10 million in its third financing round from its current investors, including Pitango Venture Capital, Veritas Venture Partners , and North Bridge Venture Capital.
"Techcrunch" also reports that Fring's annual revenue is around $10 million from advertising and voice calling service fringOut.
Fring CEO Avi Schechter said, "With the help of the fuel injection from our investors and our independent sources of revenue, Fring will double the rate at which it is making fun and new ways for us to communicate on every platform."
A few weeks ago, Fring added video conference calls to its solution, enabling several people to talk and see each other simultaneously. Video conferencing is considered a hot field in mobile, after Apple Inc. (Nasdaq: AAPL) entered the field last year with the iPhone 4 with Skype software.
Published by Globes [online], Israel business news - www.globes-online.com - on May 25, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011