AnchorFree has secured $6 million funding from its “Series A” investment financing and from a number of notable investors.
Janssen Partners, led by its chairman and CEO Peter Janssen, was the investment banking firm that handled the financing.
The company intends to use the $6 million funding to support its rapid growth and proliferation of free wireless internet access (Wi-Fi). AnchorFree will continue to aggressively develop products and intellectual property that will further solidify its leadership position as the world’s largest provider of free Wi-Fi. AnchorFree is utilizing its technology and global advertising base to drive the adoption of Free Wi-Fi and unite Free Wi-Fi access around the world. The company is dedicated to supporting existing Wi-Fi operators and networks with its co-marketing program and ad targeting technology.
“The successful Series ‘A’ financing for AnchorFree demonstrates the company’s leadership in the area of free Wi-Fi access,” said Bert Roberts, independent investor formerly chairman and CEO of MCI and strategic advisor to AnchorFree. “We expect the business model of providing free Wi-Fi access, supported by advertising dollars, will explode in the coming months. AnchorFree’s proprietary technology will play a vital role in the future of the advertising targeting market.”
AnchorFree provides consumers with access to 10,000 free Wi-Fi hot-spot locations. The company is expanding quickly and currently holds 10 percent of the estimated 100,000 hot-spot market(1). AnchorFree, through its recent acquisition of MetroFreeFi and its success in global unification of Free Hotspots, gives customers free access to an “open” community made up of hot spots, ISP providers, and its own proprietary network. The company’s products enable revolutionary ad targeting over ISP and Wi-Fi networks, secure access capabilities, and the WiPod product that enables internet users to take AnchorFree’s network list of 10,000 free Wi-Fi hot spots “to go” by downloading the directory to their iPod.
“We are pleased that some of the world’s most respected and noteworthy investors have chosen to invest in AnchorFree,” said David Gorodyansky, president and co-founder of AnchorFree. “AnchorFree strives to revolutionize the entire Internet access market and create significant opportunity for companies providing Internet access. Today’s funding announcement will most definitely help AnchorFree reach its aggressive goals.”