Giancarlo's ItsOn Inc. had previously received funding from Vodafone Group Plc, Verizon Communications and Best Buy. And as per a recent report, this time SV Angel and Silver Lake AG are granting funds to it along with Andreessen Horowitz.
However, it is Marc Andreessen's firm, which is leading the venture funding round with $15.5 million, says the founder himself. ItsOn says that a new service that is to be started in the next year will be powered by its technology. The same would be for one of the three US topmost mobile providers.
The Charlie Giancarlo's ItsOn was founded four years back by him, former Cisco Systems Inc executive, along with Greg Raleigh. Qualcomm Inc. had purchased Greg's company Airgo Networks in 2006. ItsOn deals in software development, which supports highly flexible billing options, including split billing for work and personal use and sponsored data services.
The company is aiming at allowing customers to use smartphone software such that any changes required in service plan could be made without customer-care assistance. Therefore, it is offering software, which can be installed on smartphones as well as remote servers, which are connected to a wireless network.
"This is a much more advanced way to do usage based pricing", says Marc Andreessen.
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