OpenSignal bags $4m Series A funding from Qualcomm Ventures
App allows users to find mobile phone signal coverage in their area
A start-up that allows its users to view an interactive map of mobile phone signal coverage from different providers has raised $4m in Series A funding led by tech investor Qualcomm Ventures.
Founded in 2010, OpenSignal uses a ‘crowdsourcing’ model to create its signal maps, by having users download its smartphone signal checker app which self-reports on coverage in the area.
According to OpenSignal, the app has been downloaded more than nine million times since the company launched, with a network of users based around the globe.
New backers Qualcomm Ventures bring a depth of mobile industry expertise as the investment arm of Qualcomm Incorporated, a multi-billion dollar revenue American firm which manufactures telecoms equipment for buyers around the globe.
Other backers include Passion Capital and O’Reilly AlphaTech Ventures, which led a previous $1.3m seed backing of the company in 2012.
In a blog post on its website, OpenSignal said the $4m investment would be used to leverage the potential offered by the increasing number of sensors in mobile devices – with the company having launched weather sensor app WeatherSignal earlier in the year – and growing the OpenSignal team.
Brendan Gill, chief executive of OpenSignal, said: “As we’ve got to know Qualcomm over the past few years it’s become clear that they are the right partner for the next stage of the OpenSignal journey, as not only are they leaders in the wireless industry but they also share our belief in the potential of sensor networks and crowdsourcing.
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“We’re looking forward to exploring this burgeoning field together and happy to say that O’Reilly AlphaTech Ventures and Passion Capital are also participating in the round.”