Jana, a US-based internet service provider focused on emerging markets, raised $57m today in a series C round led by Verizon Ventures, telecommunications company Verizon’s strategic investment arm.
The round also included marketing and PR agency Publicis Groupe and venture capital firm Spark Capital.
Jana’s business model involves it providing free, unrestricted internet access in emerging markets, with the cost being footed by commercial partners which provide sponsored content to users. Its mCent app also allows users to download and sample apps for free.
The company’s partners include 311 mobile networks around the world, and it has accumulated more than 30 million users across Asia, Latin America and Africa. The series C funding will support expansion into new emerging markets, including China.
Verizon Ventures director Vijay Doradla said: “In four years, brands will spend an estimated $300bn on advertising, which provides a major opportunity for Jana to work with brands to offset data costs for accessing the internet. We are excited to support Jana in giving the world greater access to free data.”
Jana has now raised $94m in funding altogether. Publicis invested $15m in Jana in 2013, after Spark had led its $8.5m series A round in 2011. The company raised an additional $12.5m in late 2014, according to a securities filing.