US-based Multiscreen as a Service (MaaS) platform provider Phunware has raised $26.25m in a series E round featuring computing company Cisco and sports entertainment company WWE, and is set to close the round at $30m in the next two months.
Founded in Texas in 2009, Phunware’s MaaS platform provides a range of enterprise services such as advertising, analytics, content management and social media management, allowing companies to engage, manage and monetise mobile app users. Phunware’s biggest customers are generally US media and telecommunications providers, and include WWE, NBC Sports, CBS, Qualcomm, Warner Brothers, AT&T and Adobe.
Venture capital fund Firsthand Technology Value Fund led the latest round, which also saw participation from existing investors Fraser McCombs Ventures, Maxima Ventures, Wild Basin Investment and the Central Texas Angel Network. Phunware, which has now raised $43m in total, said that the round has been oversubscribed and would close at $30m in the next 60 days.
“We continue to have a very ambitious vision for Phunware – to enable our customers to engage, manage and monetise every connected device on Earth,” said Phunware chief executive Alan S. Knitowski. “We have achieved tremendous growth since inception and this new funding will further accelerate our MaaS platform investments and geographic reach in supporting the multiscreen goals and objectives of our brands’ anytime anywhere audiences globally.”