SAN FRANCISCO-MVNO supplier Visage Mobile announced it scored $22.8 million in its third round of funding. The company said the round brings its total venture capital war chest to around $50 million.
Visage sells technology to brands that are looking to become mobile virtual network operators. Matt Johnson, Visage’s chief executive officer, said it can cost a company as much as $50 million to launch wireless service if it develops all its own technology. He said Visage’s technology can bring that price down to as low as $2 million.
Visage plans to use the new venture-capital funds to expand operations and support the development of additional MVNOs prior to the end of the year. Johnson said one of Visage’s MVNO partners has already launched services, and he expects two additional partners to launch service this year. Johnson declined to name the MVNO partners or the carriers with which Visage is working.
