Devyce raises £2.2m in seed funding to scale international telecoms platform
The seed round was led by Y Combinator alongside Garage Capital and FoundersX Ventures.
Devyce provides digital business phone numbers that operate over data connections without needing separate SIM cards. The firm holds a mobile network operator licence to support its software service.
Devyce has secured £2.2m in seed funding to support its international expansion and engineering capabilities. The round was led by Y Combinator alongside Garage Capital and FoundersX Ventures, with participation from individual investors including John Kim and Ryan Chan.
The London-based company offers digital telephone numbers designed for corporate employees, removing the need for dedicated work handsets or traditional SIM cards. Its proprietary access to a mobile network operator license helps lower operational costs for client organisations.
The capital injection follows a period of strong performance, including significant growth in monthly recurring revenue over the course of the previous year. Founders plan to deploy the new resources into scaling operations across European markets.
From the founder
"Businesses are continually up against it to find cost efficiencies, while creating more hybrid working environments for their people. Mobile devices, whether used for calls, messages or video meetings, are an essential tool for doing business. Devyce makes it easier and cheaper for companies to help their people make best use of the devices they already have at their disposal, wherever they are located."
Nick Browne
Co-Founder at Devyce
Investor perspective
"Owning their own mobile network puts leagues between Devyce’s founders and their nearest competition in the digital telecoms market. It is a money-can’t-buy asset, as internet companies globally know having tried and failed to create mobile networks of their own. Devyce on the other hand ploughs on, able to offer unmatched low costs for an essential service that every company globally can’t do without."
Helen Liang
FoundersX Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Devyce
Devyce supplies digital business phone numbers for international workforces.