Tuesday, May 23, 2006

AnchorFree Secures $6 Million for Free Wi-Fi Services

AnchorFree, a start-up based in Sunnyvale, California, announced $6 million in Series A funding to support its rapid growth and proliferation of free wireless internet access (Wi-Fi).

AnchorFree provides consumers with access to 10,000 free Wi-Fi hot-spot locations. AnchorFree, through its recent acquisition of MetroFreeFi and its success in global unification of Free Hotspots, gives customers free access to an "open" community made up of hot spots, ISP providers, and its own proprietary network. The company's products enable revolutionary ad targeting over ISP and Wi-Fi networks, secure access capabilities, and the WiPod product that enables internet users to take AnchorFree's network list of 10,000 free Wi-Fi hot spots "to go" by downloading the directory to their iPod.

The funding came from notable investors including Bert Roberts, former chairman and CEO of MCI; RENN Capital Group, Inc., under the leadership of the fund's President Russell Cleveland; Richard Rainwater, president of Rainwater, Inc., on behalf of his wife Darla Moore and his son Todd Rainwater; and other strategic investors.


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