Wi-Fi Provider FON Receives Additional Funding

Today the largest wi-fi community has announced that they’ve received an additional 10 million (approximately 13 million USD) from new and existing investors. This is the second round of funding the company has had in 18 months.

Companies that have already invested in FON include Google, Index Ventures, Skype and Sequoia Capitol. Currently FON services 320,000 members and 120,000 WiFi access points, 60,000 of which were added in the last 60 days. FON declined to comment on who the latest investors in the company was, but this information will be released at a later time.

Martin Varsavsky, FON’s founder and CEO, reflects on the importance of this second financing round and adding new shareholders, “we are very proud of what we have built this last year with our fantastic shareholders and just as proud to welcome the support and insight from the new ones. Having some of the most respected players in the world validates and strengthens FON’s vision.”

The cash will be used to grow the network and offer more services and products to its Community members while continuing to increase its market penetration by reinforcing its presence through retail channels and partnership deals.

FON was founded in Madrid Spain.

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