A third round of private financing brings in $65m: The money was raised to finance the acquisition of cell/Wi-Fi airport operator Concourse Communications, which runs services for airport authorities in Minneapolis-St. Paul, Detroit, Chicago (both), New York (all three metro airports), and elsewhere.
They'll use the excess cash to "provide working capital to strengthen the company's balance sheet and provide funds for future growth." Which, translated, means, "We have money but not enough to move ahead at the speed we want to, and we want to buy more companies."
Boingo has raised nearly $100m in three rounds, the last of which was in 2003. The firm says they expect they will not raise additional private funds.
I have said many times that those that believe that Boingo's entire business is customer-facing resale of aggregated hotspot access might consider that the firm has an awful lot of staying power and an awful lot of staff to perform that one function. Remember that they are a software developer, just for instance.