Be-Bound raises $4.5 mln in Series A funding

Be-Bound, which seeks to connect smartphones to the mobile internet anywhere in the world, has raised $4.5 million in a Series A funding round. Be-Bound investors include Gonzague de Blignières, former chairman of the Supervisory Equistone France and Barclays Private Equity France and the Global Corporate Investment Holding.

Press Release

Eight months after the successful launch of its application on the Google Play Store, Be-Bound® continues to grow through an expanded partnership strategy with mobile network operators (MNO) all over the world.

Be-Bound® technology makes it possible to get and to stay connected to the Internet on any existing network, including the most common 2G networks, which today offer only text capability. These operators are planning to use Be-Bound ® technology to expand and complement their existing 3G, 4G, and WiFi networks, thereby enabling millions of people to connect affordably to the internet who might otherwise have little or no connectivity.

Requiring far less bandwidth (down to 1000 times less) than traditional Smartphone Apps, Be-Bound conveys significant advantages for both the user (by limiting data consumption and cost) and for operators who need to optimize traffic on their networks. This new approach opens up access to the mobile Internet to four billion people in the world who have intermittent or non-existent Internet access. This offering is compatible with the limited budget that these new users are able to spend to connect to the mobile Internet.

Be-Bound’s aggressive strategy captured investors’ interest, allowing the company to complete in record time its first round of significant funding, a Series A round $4.5 million. The new Be-Bound investors include Gonzague de Blignières, former Chairman of the Supervisory Equistone France and Barclays Private Equity France and the Global Corporate Investment Holding, one of the largest investment funds in the Gulf and a partner of France in this region.

“This investment puts us right at the heart of the new revolution in mobile Internet connectivity, with a unique competitive advantage. Our solution does not cost anything in infrastructure investment. Even more, it allows operators to offer to their existing clients an instant access to mobile Internet almost anywhere, generating additional revenues,” says Albert Szulman, founder and CEO of Be-Bound®.

About Be-Bound®

Founded in 2011 by Albert SZULMAN and Yazid CHIR, Be-Bound® is based on a simple idea: to allow who use a smartphone to access the mobile Internet, anywhere in the world, even in countries where mobile internet coverage is low or non-existent, and in poorly covered areas.