CPAAS - SAP

Phunware Secures $22m Investment

David Murphy

Alan Phunware cropped

Knitowski: "Funding will help turn every one of our global application touch points into an opportunity to reach, engage with and convert users on a 1:1 basis"



Phunware, which describes itself as a “Multiscreen as a Service (MaaS) platform” that helps brands to engage, manage and monetize their app users, has raised an additional $22m (£17.9m) of Series F growth financing, led by Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia; Wavemaker Partners; and PLDT Capital, the investment arm of Philippine Long Distance Telephone Company. This second closing brings the company's total Series F raised to date to $40m, with the balance expected to close during the current quarter.

The round includes additional investment by current investors Fraser McCombs Capital, Maxima Ventures, WWE, Central Texas Angel Network (CTAN) and Baylor Angel Network (BAN) amongst others. The investment brings the total raised by Phunware since inception to $90m.

Earlier this year, the company launched Phunware Data, which offers access to data across more than 650m monthly active users touching the Phunware MaaS platform. The company said that its MaaS platform products and solutions currently power more than 40bn mobile user events every month and more than 1 trillion transactions annually.

“This funding will help turn every one of our global application touch points into an opportunity to reach, engage with and convert users on a 1:1 basis, and will further our vision of having every device in the Internet of Things touch the Phunware platform by 2020," said Phunware chairman, CEO and co-founder, Alan S. Knitowski.

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