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
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