MarketSpark, a San Diego, Calif., managed wireless service provider for the Plain Old Telephone Service (POTS) replacement, has completed a $ 7 million Series B round of funding.
The round was led by IDT Corporation with participation from existing and new investors, Goldie Group and Klein Enterprises. The company also announced the arrival of Shmuel Jonas, CEO of IDT Corporation, and Daniel Klein, CEO of Klein Enterprises, to the Board of Directors of MarketSpark.
The company intends to use the funds to accelerate its growth and step up its sales, marketing and platform development efforts.
In partnership with major carriers, MarketSpark already serves 35 Fortune 500 companies as they upgrade their telecommunications equipment to deliver new wireless connectivity across their national footprint.
Led by Jeff Gower, CEO, and Jake Jacoby, CTO and Co-Founder, MarketSpark is a provider of POTS alternatives for the business. Its cloud-enabled platform helps businesses replace static copper telephone lines (POTS) with a managed 5G-capable wireless solution.
The main features include:
- Cloud PaaS (Platform as a Service)
- Hardware as a Service Offering (HaaS)
- Proactive system alerts and notifications
- Remote diagnostics and resolutions
- Routing equipment optimized for 4G and ready for 5G
- UL and FCC approved material
- Secure redundancy
Additionally, the transition from POTS lines to the MarketSpark solution simplifies connectivity issues for large businesses that often have to manage multiple operators in multiple states and jurisdictions. With MarketSpark, the company deals with one vendor responsible for end-to-end solutions, from planning and installation to ongoing operation and maintenance.