Official Press Release
With over $50 million in total funding, the company will leverage its existing global data platform and expand its service to IoT, M2M, and other smart devices
SAN FRANCISCO, March 2018 – Skyroam, the global WiFi provider that keeps travelers connected around the world through mobile hotspots powered by its virtual SIM (vSIM) technology, is announcing that it has closed a Series C funding round of $20M led by JAFCO Asia with participation from returning investors Vickers Venture, GSR Ventures, China Broadband Capital, as well as Delta Electronics Capital. This brings the technology company’s total funding to over $50M, with several investors returning to show confidence in Skyroam’s existing business, as well as support for the long-term future direction and market opportunity.
With global travel hitting record highs in 2017 amounting to nearly 10 billion trips according to IPK — while at the same time mobile internet use continues to experience rapid growth — a reliable mobile connection is a must-have for today’s traveler. Skyroam’s mobile connectivity solution is a top choice for travelers from the Americas, Europe and Asia, thanks to its core vSIM technology offering the convenience of instant data coverage worldwide without the need to configure local SIMs, getting locked into contracts, or incurring roaming and overage fees. Launching three years ago, Skyroam’s mobile WiFi hotspot business for travelers has reached over 15 million users worldwide and achieved stable long term profitability. Top connectivity needs for these travelers include navigating international trips, business productivity, and keeping in touch with clients, colleagues and loved ones.
Now Skyroam is expanding into new markets. The new funding will accelerate global deployment of a smart data platform, so that hundreds of millions of smart devices can access faster and more reliable cross-border and cross-carrier connectivity. The vSIM technology found in Skyroam’s hotspots is now embedded into 4G mobile chips to allow any device to seamlessly access mobile data around the world anytime, anywhere.
The latest 4G chips and 4G Modules are manufactured with Skyroam’s vSIM inside. Skyroam produces the first successful built-in vSIM technology into a single chip and is opening to third-party manufacturers of smart devices such as AI devices, smart watches, connected automobiles, tablets/phones and more smart gadgets – providing an open software platform to seamlessly connects any device with the best available local mobile data network in more than 120 countries with over 200 operators across the world. Skyroam offers a unique competitive advantage with its carrier diversity, enabling better coverage, cost-effective pricing and instant secure access anywhere on-demand.
“Skyroam has developed a unique breakthrough technology with its vSIM platform, backed by an excellent operations team that is leading the industry. “ says Ms. Pan Ruiting, Managing Director of JAFCO Asia Group. “We believe in the near future, billions of connected devices will be everywhere which allows for a big opportunity for an open software-based mobile data connectivity platform. Skyroam’s vSIM platform has demostrated its service reliability and is in the best position to support these billions of devices. We’re excited to be part of Skyroam’s team to help achieve its vision of seamless global connectivity.”
“We started in 2008 in Silicon Valley where we began research and develop our vSIM technology, in 2014 we launched Skyroam WiFi for global travelers, over the past 3 years we have continuously improved our global data service platform were we serviced over 10 million users annually, established an excellent team and achieved our financial profitability goal,” says Skyroam CEO, Jing Liu. “This new round of investment represents our investor’s confidence in the company’s execution, as well as the enormous market opportunity in the next phase in front of us.”
The round of financing will also be used to strengthen Skyroam products, expand the engineering and research team, enhance the end-to-end service platform, and accelerate growth into more vertical markets across the world.
The Skyroam Solis, dual 4G LTE global WiFi hotspot and power bank, is available for purchase on skyroam.com for $149.99 with shipping to over 150 countries. Global WiFi service is available daily or monthly, pay-as-you-go only $9 for each 24-hour daypass or $99/month for the new Monthly Unlimited Global WiFi Subscription for a limited time. Additionally hotspot rental options are also available starting at $9.95 per day.
Skyroam was founded in Silicon Valley by technology innovators who identified a common pain-point among fellow travelers: getting fast, secure, and reliable mobile internet connection on the road. To solve this problem, Skyroam developed and patented its virtual SIM (vSIM) technology, which delivers on-demand local wireless data through local carrier partnerships around the world. Skyroam’s global hotspots, embedded with a vSIM, enable unlimited mobile WiFi in 120+ countries. Skyroam’s vSIM technology also provides global mobile data access to IoT, M2M, and wearables applications. Visit www.skyroam.com for more information and stay in touch at @MySkyroam on Instagram, Facebook, and Twitter.
Skyroam is backed by over $50 million in funding, led by Lenovo Group and worldwide VCs, is headquartered in the Silicon Valley, with additional offices in China, Germany, and the Philippines. Skyroam’s global hotspots are available across the US, Europe, and around the world at retail and airport shops including Lufthansa Worldshop, Miles & More In-Flight, BluWire, InMotion Entertainment, Expansys, and vending machines at select airports, as well as partnerships with Starwood Preferred Guest Hotels and Philippine Airlines.
Jing Liu – Founder and CEO
Eric Plam – VP/General Manager, Skyroam International
Cory Jones – VP of Global Marketing and Product, Skyroam International