About Fongo
Fongo is a company based in Waterloo (Canada) founded in 2010 by Mike Brown and John Stix. It operates as a SaaS (Software-as-a-Service), Subscription Services, and Freemium. Fongo has raised $1.7 million across 1 funding round from investors including Angel One Investor Network, Golden Triangle Angel Network and Tech Capital Partners. Fongo offers products and services including Fongo Mobile, Fongo Home Phone, Fongo Works, and Fongo Internet. Fongo operates in a competitive market with competitors including Rebtel, TextNow, Pinger, textPlus and Tyntec, among others.
- Headquarter Waterloo, Canada
- Founders Mike Brown, John Stix
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Sectors
Telecommunications
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Phone
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Website
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Social
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- Legal Name Fongo Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$1.7 M (USD)
in 1 rounds
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Latest Funding Round
$1.7 M (USD), Seed
Nov 16, 2012
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Investors
Angel One Investor Network
& 2 more
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Employee Count
Employee Count
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Products & Services of Fongo
Fongo offers a comprehensive portfolio of products and services, including Fongo Mobile, Fongo Home Phone, Fongo Works, and Fongo Internet. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Unlimited Canada-wide calling and texting app provided.
Low-cost VoIP home phone service is offered.
Free business phone system with upgrades available.
Unlimited high-speed internet service is provided affordably.
Funding Insights of Fongo
Fongo has successfully raised a total of $1.7M through 1 strategic funding round. The most recent funding activity was a Seed round of $1.7 million completed in November 2012. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $1.7M
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First Round
First Round
(16 Nov 2012)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2012 | Amount | Seed - Fongo | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Fongo
Fongo has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Angel One Investor Network, Golden Triangle Angel Network and Tech Capital Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Angel One Investor Network is focused on connecting Canadian startups with investors to drive innovation and economic growth.
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Founded Year | Domain | Location | |
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Early-stage tech startups in Canada are supported through angel investments.
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Founded Year | Domain | Location | |
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Early-stage VC firm investing in the US & Canada
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Fongo
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Fongo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Fongo Comparisons
Competitors of Fongo
Fongo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Rebtel, TextNow, Pinger, textPlus and Tyntec, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cheap international calling services are provided by Rebtel.
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| domain | founded_year | HQ Location |
Provider of free texting and international voice calling app
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| domain | founded_year | HQ Location |
Free texting and calling are enabled through a cross-platform app.
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| domain | founded_year | HQ Location |
VoIP calling and messaging services are provided to global users.
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| domain | founded_year | HQ Location |
Mobile messaging services are provided for enterprise-customer connections.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Fongo
When was Fongo founded?
Fongo was founded in 2010 and raised its 1st funding round 2 years after it was founded.
Where is Fongo located?
Fongo is headquartered in Waterloo, Canada. It is registered at Waterloo, Ontario, Canada.
Is Fongo a funded company?
Fongo is a funded company, having raised a total of $1.7M across 1 funding round to date. The company's 1st funding round was a Seed of $1.7M, raised on Nov 16, 2012.
What does Fongo do?
Fongo is established as a provider of low-cost communication solutions for personal, home, and small business needs in Canada. Services are offered across multiple sectors including mobile apps, VoIP home phone systems, business phone systems, and high-speed internet. Solutions such as unlimited Canada-wide calling, texting, and internet services are provided with a focus on simplicity, reliability, and affordability. Operations are primarily based in Waterloo, Ontario, with services limited to specific regions like Ontario and Quebec for internet offerings.
What products or services does Fongo offer?
Fongo offers Fongo Mobile, Fongo Home Phone, Fongo Works, and Fongo Internet.
Who are Fongo's investors?
Fongo has 3 investors. Key investors include Angel One Investor Network, Golden Triangle Angel Network, and Tech Capital Partners.
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