Industry-leading provider of managed wireless services to aggressively scale sales, marketing, and platform development
SAN DIEGO, California, April 6, 2021 – MarketSpark, the industry leader in managed wireless services for POTS (Plain Old Telephone Service) replacement, announced the completion of a $7 million Series B financing round. The investment will accelerate company growth and scale its sales, marketing, and platform development efforts. The round was led by IDT Corporation, with participation from existing and new investors, including Goldie Group and Klein Enterprises.
As part of this funding, Shmuel Jonas, CEO of IDT Corporation, and Daniel Klein, CEO of Klein Enterprises, will join MarketSpark’s Board of Directors. Their experience and leadership will help guide MarketSpark’s next stage of expansion.
Building on Strong Momentum
This Series B financing follows a year of significant growth for MarketSpark. The company has become the top provider of wireless 4G and 5G-enabled LTE solutions for enterprises. In partnership with major carriers, MarketSpark currently supports 35 Fortune 500 companies as they modernize telecom infrastructure and deploy new wireless connectivity across the country.
“POTS lines are being decommissioned at an accelerated pace by major carriers, and MarketSpark is purpose-built to meet the needs of large enterprises,” said Jeff Gower, CEO of MarketSpark. “This investment allows us to enhance the customer experience, improve digital transformation, and scale operations to ensure seamless installations and service delivery. We’re thrilled to partner with investors whose deep industry expertise complements our vision.”
Why IDT Invested in MarketSpark
IDT Corporation is a global provider of communications and payment services listed on the New York Stock Exchange. The company actively invests in early-stage telecom innovators with the potential to redefine connectivity.
“MarketSpark’s managed services platform provides a unique and scalable solution to the POTS replacement challenge,” said Shmuel Jonas, CEO of IDT Corporation. “They are perfectly positioned to support thousands of companies managing millions of LTE and 5G-enabled lines. We’re excited to make this investment and help accelerate their growth.”
Transforming Enterprise Connectivity
MarketSpark’s managed service replaces outdated infrastructure and legacy copper lines tied to life-safety systems. The solution delivers telco-grade reliability and simplifies connectivity across large enterprises.
Key features include:
- Cloud Platform as a Service (PaaS)
- Hardware as a Service (HaaS)
- Proactive system alerts and notifications
- Remote diagnostics and resolutions
- 4G-optimized and 5G-ready routing equipment
- UL and FCC approved hardware
- Fail-safe redundancy
The transition from traditional POTS lines to MarketSpark’s managed solution helps enterprises reduce complexity. Many organizations currently manage multiple carriers across several states and jurisdictions. With MarketSpark, they gain a single partner responsible for planning, installation, operation, and maintenance. As a result, customers experience simplified management and improved performance.
About IDT Corporation
IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud communications, and traditional communications services. The company helps families connect and support one another across international borders while enabling businesses to transact and communicate with customers through advanced technology.
IDT’s portfolio includes BOSS Revolution’s international calling and money transfer services, National Retail Solutions (NRS) point-of-sale retail network, and net2phone’s unified communications platform. The company also provides international voice and SMS solutions through IDT Carrier Services and IDT Express.
About MarketSpark
MarketSpark is the leading provider of POTS replacement solutions for enterprises. Its cloud-enabled platform helps organizations move from costly copper telephone lines to secure, managed wireless connectivity that is 5G-ready. MarketSpark is the only managed service provider in telecom built specifically for large-scale POTS replacement. Whether upgrading existing sites or building new infrastructure, MarketSpark delivers a reliable platform for growth and immediate ROI.