Gigs, an operating system for mobile services, announced that it has raised $73 million in a Series B round led by Ribbit Capital. All existing investors, including Google's Gradient, YC, and Speedinvest, participated in the round.
Gigs will use the funding to expand its geographical footprint and invest in an expanded suite of products and services for tech companies. This will enable more tech brands to innovate in telecom meaningfully, provide more value to their customers, and tap into a new recurring revenue stream.
Before Gigs, high barriers to entry kept the telecom industry closed off to innovators. And new entrants faced years of tough commercial negotiations with carriers and had to spend thousands of engineering hours navigating the messy patchwork of single-purpose vendors with fragmented operating systems. Engineering teams also deal with clunky, unstable, and inconsistent APIs from multiple carriers -- like building tech from the early 2000s -- all just to enter one market. Plus, businesses were forced to commit more than $100 million upfront to achieve competitive rates from networks and get priority network access, all before selling a single subscription.
These operational and capital expenses were hard to recoup and tied businesses to network-specific investments, hindering scalability and eroding margins. So, any plans to expand internationally require repeating the entire effort with each network operator -- an untenable challenge for technology platforms that don't consider telecom to be their core business. Thus, the internet economy lacks the infrastructure for connecting to the global telecom grid, which is something tech companies take for granted in areas like hosting and payments.
Gigs is transforming access to the mobile service industry. And the company's mission is to reduce the cost of setting up a mobile service in one or multiple markets and lower operational and service costs to near zero. Without Gigs, developing and refining their service would take new entrants to the mobile service market years.
Gigs' operating system enables companies to launch their own mobile service on premium networks globally within weeks, all through a single integration, eliminating the need to hire large teams of telecom engineers, navigate compliance hurdles, or manage multiple vendors and platforms. By offering everything you need to launch your mobile service in one platform, including premium wholesale connectivity, a best-in-class connectivity API, a hosted checkout, a multi-currency payments suite, a tax engine, a subscription and analytics platform, and AI-based customer service, Gigs removes the complexity, time-to-market, and costs for tech brands wanting to embed their mobile services into their digital products and services.
To ensure customers maintain a competitive edge and operate services with the highest customer satisfaction and the lowest cost to serve globally, Gigs continuously productizes every aspect of its business and automates every customer support ticket. And for the first time, this makes telecommunications accessible to tech companies that expect to work with modern tools and high-performance platforms.
KEY QUOTES:
"We believe that getting a phone plan should be as easy as ordering an Uber, not as complicated as leasing a car at a dealership. The truth, however, is that phone plans are stuck in the past: analog, uniform, and, frankly, unloved. Extremely high barriers to entry have kept innovation out of the industry for too long. Now, the world's leading product companies can bring this innovation to their users. Gigs breaks down these hurdles by empowering any tech company to distribute phone plans directly through their apps, transforming connectivity from a standalone commodity into a core, customizable feature of every digital product experience. Ribbit has a proven track record of upending markets burdened by incumbent lethargy. We were impressed by the team's vision so when the offer came to lead our Series B, it felt very natural to lean in."
- Hermann Frank, co-founder and CEO at Gigs
"Since our launch in 2020, Gigs has significantly increased its annual recurring revenue, cementing its position as one of the fastest-growing B2B companies globally. Leading tech brands with large, highly engaged audiences -- ranging from high-growth neobanks like Nubank and Wealthsimple to major HR platforms, travel companies and phone manufacturers -- are leveraging Gigs' connectivity platform to integrate phone plans into their core services, delivering unique and seamless product experiences. With exciting new product launches and lighthouse customer announcements in 2025, Gigs is set to inspire even more innovative tech companies to launch their own mobile services."
- Dennis Bauer, co-founder and President at Gigs
"Mobile connectivity, like banking, is one of the most widely used consumer services globally. Yet, it consistently ranks among the lowest in customer satisfaction. Gigs is seizing a once-in-a-decade opportunity to revolutionize the $1T+ annual mobile subscription market, empowering innovators and trusted brands to digitize and enhance customer experiences, with phone plans serving as the ultimate superglue. We are impressed by the team's vision, execution, and global momentum, and we're excited to partner with them on this journey."