Cambia Networks Secures $11 Million in Funding To Deliver First Open Architecture Platform for Wireless Data Communications.Business Editors/High-Tech Writers CHICAGO--(BUSINESS WIRE)--Feb. 26, 2001 Benchmark Capital Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups, including eBay. In 1995, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999 and resulted in one of Silicon Leads First Round To Back Industry-Proven Team Behind Wireless Data Architectures; Round Also Includes Skymoon Ventures and Eagle Technology Ventures Cambia Networks, a provider of open data gateway platforms for wireless service providers, today announced that it has secured $11 million in its first round of funding from Benchmark Capital, Skymoon Ventures and Eagle Technology Ventures. Benchmark Capital led the first round of funding as the largest investor, joined by Mike Farmwald's Skymoon Ventures and Craig McCaw's Eagle Technology Ventures. The company, which will target the $30 billion wireless infrastructure market, will deliver the first open architecture data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. platform that connects wireless networks to IP data networks. Cambia Networks will offer a carrier class data gateway solution for the global CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. and GSM (Global System for Mobile Communications) A digital cellular phone technology based on TDMA that is the predominant system in Europe, but also used worldwide. Developed in the 1980s, GSM was first deployed in seven European countries in 1992. markets. The company will partner with world-class hardware and operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. leaders to augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: its core focus in data communications software and deliver a complete solution to customers. Cambia's products will significantly increase data transfer and throughput, accelerate enhanced data service creation, and reduce costs and time to deploy applications. "Wireless service providers now will have the optimal environment to address their greatest challenges, including customer retention rates, customer acquisition costs, and deployment of applications," said Andrew Bezaitis, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cambia Networks. "Cambia's solutions will ensure service providers operate more efficiently, rapidly deploy applications in succession, and save more than a year in implementation time. We also will help providers address critical challenges such as the two to three percent monthly turnover rate of its subscriber base. Our goal is to extend the power and effectiveness of wireless data communications." Cambia's open architecture platforms, which will be unveiled next quarter, will allow significant revenue generation and cost savings for wireless service providers and enterprises. This platform will support the latest standards, including 2G, 2.5G and 3G, and will provide added efficiencies in the way that data is transmitted from traditional communications companies Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. to networking vendors to enterprises and devices. By delivering carrier class software bundled with market-proven, carrier-class hardware equipment, Cambia will accelerate implementation time and ensure easy and widespread distribution of its open platform. Cambia Networks' executive management team includes talent from leading infrastructure companies such as 3COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. , Lucent and Motorola. Members of Cambia's management team are credited with having built the first generation of data communications platforms based on 2 and 2.5G, achieving 90 percent market share in the CDMA wireless data gateway market. "We are very enthusiastic about Cambia's new model and believe it will dramatically accelerate innovation in this space," said Alex Balkanski, general partner, Benchmark Capital. "The company's open architecture will significantly lower costs, simplify the business process to introduce applications, and change the way business is done in wireless data communications. Cambia's R&D is focused on where it can add value to its customers - the software layer. It will stand on the shoulders of giants to deliver powerful software solutions with world-class hardware equipment." "The two biggest challenges for wireless carriers today are to control their capital expenditures by deploying the most scalable, cost-effective infrastructure and to increase revenues by offering new services to customers," said wireless telecom pioneer Craig McCaw Craig McCaw (b. August 11, 1949 in Centralia, Washington) is the second of four sons of Marion and John Elroy McCaw. The Seattle-area businessman and entrepreneur achieved success as a pioneer in the cellular phone industry. , founder of Eagle Technology Ventures, McCaw Cellular (now AT&T Wireless) and controlling shareholder of Nextel Communications Nextel Communications, styled NEXTEL, (Former NASDAQ: NXTL) which is now known as the Sprint Nextel Corporation was a telecommunications firm based in the United States. Known for providing a nation-wide mobile communications system. . "Cambia is providing innovative solutions that address both of these opportunities." About Cambia Networks Cambia Networks, Inc. is a Chicago-based network equipment provider delivering best-of-breed, next-generation wireless infrastructure equipment. Cambia Networks' products will provide wireless service providers with data gateway solutions focused on high bandwidth applications that will be associated with 2G and 3G, the next generation wide area wireless networks. For more information on Cambia Networks, visit its web site at www.cambianetworks.com. About Benchmark Capital Benchmark Capital was founded in 1995 with the mission of helping talented entrepreneurs build major technology enterprises focused on long-term growth. Benchmark takes a labor-intensive, team-oriented approach to venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so in order to deliver a superior level of service to its portfolio companies. Benchmark's portfolio includes franchise companies such as Ariba, eBay, Handspring hand·spring n. A gymnastic feat in which the body is flipped completely forward or backward from an upright position, landing first on the hands and then on the feet. , Juniper Networks Juniper Networks, Inc. (NASDAQ: JNPR) is an information technology company based in Sunnyvale, California and founded in 1996. The company designs and sells Internet Protocol network products and services. and Red Hat Software. Managing more than $2.3 billion in committed venture capital, Benchmark focuses on early-stage investing in markets where the partners have direct, relevant experience. For more information on Benchmark, visit its Web site at www.benchmark.com. More information about Skymoon Ventures is available at www.skymoonventures.com. |
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