IDT Leads $7M Series B Funding Round for MarketSpark

IDT Leads $7M Series B Funding Round for MarketSpark

By Maurice Nagle

We live in an era of transformation. From the data center, to the c-suite, change is all around us. As innovation continues to shape the future of business, it is MSPs distributing the fruits of labor, replacing legacy with next generation technologies around the globe and supporting the demands of the modern workforce.

MarketSpark announced the completion of a successful Series B round of financing, bringing in $7 million to scale sales, marketing and platform development efforts to drive growth for the provider of managed wireless services.

POTS served industry well, but with the MarketSpark managed service solution, it is replaced with CPaaS, fail safe redundancy, Hardware-as-a-Service, remote resolution and diagnostics, 4G optimized and 5G ready equipment, proactive alerts and notifications as well as UL and FCC approved hardware.

"MarketSpark's managed services platform is a unique and powerful solution to the POTS replacement problem and they are perfectly positioned to deliver for thousands of companies managing millions of 4G and 5G-enabled LTE lines," said Shmuel Jonas, CEO of IDT Corporation. "We couldn't be more excited to make this investment and help accelerate MarketSpark's growth."

The funding news comes with the addition of Shmuel Jonas, CEO of IDT Corporation and Daniel Klein, CEO of Klein Enterprises to the MarketSpark Board of Directors.

The role of managed service providers is central to widespread digital transformation, assisting firms of all shapes and sizes with tools to better compete in the modern era.




Edited by Maurice Nagle
Get stories like this delivered straight to your inbox. [Free eNews Subscription]
SHARE THIS ARTICLE
Related Articles

Shining a Light on the Dark Web: Searchlight Cyber Debuts Comprehensive Hub

By: Greg Tavarez    3/28/2024

The Dark Web Hub is a one-stop shop for crucial context and continuously updated information on dark web marketplaces, ransomware actors, hacking foru…

Read More

Stellar Cyber and Trellix Bridge the Gap in Security Operations

By: Greg Tavarez    3/28/2024

Stellar Cyber announced the integration with Trellix Endpoint Security HX to allow customers to deploy more robust security solutions and improve thei…

Read More

CyberSaint Raises $21M in Series A Funding to Continue Securing its CyberStrong Customers

By: Alex Passett    3/27/2024

CyberSaint announced that it succeeded in a huge $21 million Series A funding round. This was led by Riverside Acceleration Capital (RAC) with other i…

Read More

US Education Receives Security Upgrade with Free Browser Protection Offered by Conceal, Carahsoft

By: Greg Tavarez    3/27/2024

Conceal and Carahsoft recently unveiled an initiative to fortify the cybersecurity infrastructure of U.S. educational institutions.

Read More

Cato's AI Takes Control of Security and Incident Response

By: Greg Tavarez    3/27/2024

With Cato's recently announced Network Stories for Cato XDR, advanced AI algorithms instantly identify outages in customer networks and conduct root c…

Read More