PrivCo Logo

The Business of Jail Phone Calls

The Business of Jail Phone Calls
June 9, 2022

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
If you have friends who would enjoy reading this newsletter, please forward this email to them.

You know that scene in the movie, where a weary parent picks up the phone, and an automated voice proclaims, "an inmate at such and such correctional facility is calling. Press one to accept the charges."? Jailhouse phone calling, it turns out, is a big business. It's specifically called Inmate Calling Services, and it's a particular vein of the telecommunications industry in our country. 

Two major jailhouse phone corporations have been on an acquisition spree of smaller telecommunication companies for years. Aventiv, which acquired the industry leader Securus, and GTL represent the two primary providers for jailhouse telecommunications across the country. Now, these two companies' market consolidation has caught the eye of the Federal Communications Commission. The FCC has been hot on their tails (in slow bureaucratic terms) for years, questioning the exorbitant prices and commission structure for the two companies to win contracts with jails.

These ICS companies are attempting to work out different pricing structures, such as a subscription model, after pressure from organizations and the families of incarcerated individuals who pay the price of communication with their loved ones. The trajectory of each company is like a masterclass in mergers & acquisitions, but one that has undoubtedly sparked criticism for price fixing and anti-competitive behavior.

Trouble for the truck stop
Businesses that cater to long-haul truckers are suffering amidst driver shortages.
[NY Times]
Regulating crypto
Crypto has been low on the priority list for Congress, but regulation is coming.

Since last week, PrivCo has added:
1,161 Companies | 213 Funding Activities | 133 M&A Deals

Funding & Deal Highlights:

Nfinite raises $100MM from Insight Partners

Visualization • Round B • Bordeaux, France

Onfleet raises $23MM from Kayne Anderson

Fleet Management • Round B • San Francisco, CA

Canix raises $10MM from Altair Capital

Cannabis • Equity • San Francisco, CA

Let’s Do This raises $60MM from Craft Ventures

Sports • Round B • London, United Kingdom

Code Biotherapeutics raises $75MM from Northpond

Drug Research • Round A • Hatfield, PA

Knock Lending raises $220MM from Foundry

Real Estate • Equity • San Mateo, CA

ImmunOs Therapeutics raises $74MM from Samsara 

Drug Research • Round B • Zurich, Switzerland

PhysicsWallah raises $100MM from Westbridge

EdTech • Round A • Noida, India

Kinside raises $12MM from Sasha McKenzie

Child care • Round A • Claremont, CA

Trovata raises $27MM from Fintop Capital

Fintech • Round B • San Diego, CA

Mercer Advisor acquires Fure Financial

Finance • Acquisition • Bloomington, MN

Plaskolite acquires MXL Industries

Manufacturing • Acquisition • Lancaster, PA

Forward to a Friend Forward to a Friend
Not a subscriber yet? Sign up here!
Have an interesting topic you want us to include. Let us know!
Copyright © 2022 PrivCo Media, LLC. All Rights Reserved.
Unsubscribe | | Contact Us
PrivCo Logo

© 2024 PrivCo Media, LLC


HomeSign inContactPricing