Telecom company Flyp scores $5.8 mln seed

Flyp, a communications app provider, has secured $5.8 million in seed funding. The investors included Aspect Ventures, Acorn Ventures, Structure Capital, MAG Ventures, Morningside Technology Ventures, Russell Simmons and Jeffrey Parker.

PRESS RELEASE

BOSTON – February 1, 2016 – Flyp, a U.S.-based telecommunications company, today announced that it has raised $5.8 million in seed funding from institutional investors in Silicon Valley and prominent East Coast investors.

With more than one million downloads globally over the past nine months, Flyp is helping consumers take control over their mobile communications. The Flyp communications app allows users to create and own multiple phone numbers for each aspect of their life – all on one mobile device. Because Flyp uses existing cellular networks, users receive the highest call quality and text reliability available today and can call any number in or out of the Flyp network. Flyp also provides international customers with a real U.S. phone number on their device for the most reliable, highest quality calling and texting to the United States – for free. The Flyp app is available in the App Store for iOS users and on Google Play for Android.

Freelancers, Entrepreneurs and SMBs Flock to Flyp
The freelance economy continues to grow rapidly, estimated at more than 54 Million people in 2015 in the U.S. alone. This emerging population requires solutions that help keep their work and personal lives separate, without requiring them to carry another device. More than 50 percent of Flyp users over the past nine months categorized themselves as freelancers and small business owners. The number one reason for their selection of Flyp is to manage all of their communications from a single device.

Managing Your Mobile Life with Flyp
Flyp gives consumers and business professionals complete control over all of their mobile communications.
· Manage All Communications in One App: Flyp unifies all mobile communications, enabling consumers to view their phone calls, texts, and voice messages in one dynamic feed. This eliminates the need to jump from app to app or screen to screen.

· Free International Calls with the Highest Voice Quality: Flyp gives international users a real U.S. phone number on their device in 17 countries – providing free calls to any U.S. number, in or out of the Flyp network. Unlike VoIP services like Google Voice and WhatsApp, Flyp uses proprietary telecommunications technology and plugs directly into the cellular network, resulting in the highest-call quality available on the market. Because Flyp works over cellular channels, users can use the app anytime, anywhere and never face high data charges for calls and texts.

· Own Multiple Numbers on One Device: Flyp makes it easy for users to add and own new U.S. based phone numbers to control how and when people contact them. Users select the area code of their choice for local calling in the U.S., creating dedicated lines for business, social activities, shopping, dating and any other aspect of life that needs to be organized.

“We’re building a modern telecommunications company that addresses consumers’ two biggest communications concerns: quality and cost,” said Peter Rinfret, Flyp co-founder and CEO. “The traditional telcos deliver the quality, but at a super high cost. The OTT companies deliver affordability, but often lack reliability and have limited reach. Flyp has engineered a completely new platform that takes advantage of the quality and openness of the traditional telco infrastructure, while operating on OTT-like economics. The result is a low-cost service that delivers exclusive features and functionality with unmatched call quality.”

The $5.8 Million seed round was raised from institutional investors in Silicon Valley and prominent East Coast investors. Investors include, amongst others, Aspect Ventures, Acorn Ventures, Structure Capital, MAG Ventures, Morningside Technology Ventures, Russell Simmons, and Jeffrey Parker. The funds are being used to refine the user experience, expand business quality features and launch the service in an additional 30 countries in 2016.

“We’ve been deeply impressed by the rapid organic growth that Flyp has achieved in a short period of time. We think their differentiated technology coupled with the market validation they’re already getting puts them in a unique position to change mobile communications,” said Jennifer Fonstad, Founder at Aspect Ventures.

About Flyp
Flyp, Inc. is a US-based telecommunications company focused on changing the global consumer communication experience. The company’s proprietary platform delivers the highest quality voice and text communications in or out of network, while enabling the use of multiple phone numbers on a single device. For international users, Flyp is the first solution that provides mobile users with a real U.S. phone number on their device for the most reliable, highest quality calling and texting to the United States – for free. To learn more visit www.getflyp.com or follow Flyp on Twitter @getflyp.