Phunware Finds $26.25M

Austin-based Phunware, which develops mobile advertising, analytics, and other tools for brands, said this week that it has raised $26.25M in a Series E funding, and expects to close out the round at $30M in the next sixty days. The company said the initial close was led by Firsthand Technology Value Fund, and also includes Fraser McCombs Ventures, Maxima Ventures, Wild Basin Investment and the Central Texas Angel Network (CTAN), as well as new strategic investors Cisco and WWE. The company said the new round brings its total raised to $43M. Fraser McCombs Capital's Chase Fraser, as well as Kevin Landis, Chairman and President of Firsthand, will both join the company's board as part of the funding. More information »