GreatCall Inc., a Del Mar, Calif.-based provider of Jitterbug mobile phones and services for baby boomers and seniors, has raised $38 million in Series C funding. Court Square Ventures led the round, and was joined by return backers Capital, Charles River Ventures, Nauta Capital. Also participating was Sumitomo Corp. via the full conversion of previously-issued notes. GreatCall had previously raised over $40 million.
GreatCall, Inc., creator of Jitterbug, today announced that the company has closed $38 million in Series C funding led by Court Square Ventures. Existing investors Steelpoint Capital, Charles River Ventures, Nauta Capital, and company founders Marty Cooper and Arlene Harris also participated in the round. In addition, Sumitomo Corporation participated with full conversion of previously issued notes. In conjunction with the financing, Jim Murray, a general partner with Court Square, will join the company’s Board of Directors.
GreatCall will use the financing to continue to build out additional sales channels and develop innovative services, applications and devices to answer the needs of its rapidly expanding customer base.
“Jitterbug is on the forefront of delivering services to a tidal wave of mature consumers with needs that are very different than most wireless users,” says Jim Murray, founder of Court Square and of early cellular investor Columbia Capital. “We saw this as an opportunity to expand our portfolio in a space where underserved demographics, healthcare, and technology are converging. Jitterbug is positioned to make a substantial contribution to the market.”
“We’re very excited about adding a new experienced wireless investor to the existing base of very smart investors supporting the company,” comments David Inns, CEO of GreatCall. “Wireless is a complicated and tough business. Our experienced team is executing well, and we’ll use this new infusion for continued growth and the innovation needed to make this and future generations of simple, affordable and helpful wireless technology a reality.”
“I have great admiration for Jim’s contributions to the wireless industry � he’s a valuable addition to our Board and our Jitterbug team,” added Chairwoman Arlene Harris.
About GreatCall, Inc.
GreatCall, creator of Jitterbug, was founded by Arlene Harris, the first woman inducted into the “Wireless Hall of Fame”, and Martin Cooper, the father of the first portable cellular phone. GreatCall’s vision is to deliver easy to use, helpful and affordable cellular phones and service, creating a new industry standard for simplicity. Jitterbug, created with worldwide leader Samsung, is sold nationwide through direct-to-consumer channels. Jitterbug is also available at Best Buy, Sears, select CVS, Beltone Hearing Centers, and wireless retailers across the country. Service coverage includes the U.S. and Canada. GreatCall is located in Del Mar, CA. For more information, please visit www.jitterbug.com.
About Court Square Ventures
Court Square Ventures is a venture capital firm that invests in early-stage communications, information technology, and media companies, with a particular interest in points of convergence between these industries. The firm’s deep understanding of its three target sectors stems from the partners’ 60 years of operating and investing experience in these areas. Court Square uses this base of experience to support young companies executing the critical transitions from pre-revenue to first sales and accelerating growth. Court Square seeks to establish close partnership with passionate, committed entrepreneurs and like-minded co-investors. The principals bring a broad national network of target sector contacts to bear in helping portfolio companies source customers, find strategic partners, and recruit key personnel. For more information, visit www.courtsquareventures.com.