What is iPass?
iPass Inc. specializes in delivering mobile connectivity services that facilitate Wi-Fi access across a wide array of mobile devices in the United States and internationally. The company's cloud-based solution enables customers and their users to connect to its extensive Wi-Fi network, ensuring continuous access to information and communication. iPass serves both large and small enterprises, alongside strategic partners including original equipment manufacturers, loyalty program providers, software and service vendors, and communication companies. Its proprietary iPass SmartConnect technology automates the process of connecting users to the most suitable Wi-Fi hotspots based on their needs. The company's network spans approximately 120 countries, with hotspots strategically located in airports, hotels, train stations, convention centers, outdoor venues, and inflight environments. iPass Inc. distributes its services directly through its global sales force and indirectly via reseller and strategic partners. Founded in 1996, the company is headquartered in Redwood Shores.
How much funding has iPass raised?
iPass has raised a total of $169M across 4 funding rounds:
Other Financing Round
$21M
Other Financing Round
$30M
Stock Offering
$98M
Share Placement
$20M
Other Financing Round (1999): $21M with participation from Intel Capital, Meritech, Asia Pacific Ventures, Crosspoint Venture Partners, and Accel
Other Financing Round (2000): $30M led by Sand Hill Capital, Equant, Crosspoint Venture Partners, and Accel
Stock Issuance/Offering (2003): $98M, investors not publicly disclosed
Share Placement (2018): $20M featuring Fortress Investment Group
Key Investors in iPass
Intel Capital
Intel Capital, founded in 1991, is a division of Intel that invests in innovative startups across various technology sectors including AI, autonomous vehicles, and cloud computing. They are known for facilitating business development introductions for their portfolio companies.
Fortress Investment Group
Fortress Investment Group, established in 1998, is a global investment management firm with expertise in hedge funds, private equity, and real estate. They focus on control-oriented investments in cash flow generating businesses across sectors like financial services and telecommunications.
Crosspoint Venture Partners
Crosspoint Venture Partners is a venture capital firm that has participated in multiple funding rounds for iPass, indicating a strategic interest in the company's mobile connectivity solutions.
What's next for iPass?
The recent major strategic investment in iPass signals a pivotal phase for the company, likely aimed at enhancing its global Wi-Fi infrastructure, expanding service offerings, and potentially exploring new market segments within the mobile connectivity landscape. With a substantial total funding amount of $169M, iPass is well-positioned to further its mission of providing seamless mobile connectivity worldwide. Future strategic initiatives may include advancements in its iPass SmartConnect technology, forging new partnerships, and optimizing its network coverage in high-demand locations. The company's enterprise-level focus suggests a continued emphasis on B2B solutions and large-scale deployments.
See full iPass company page
