Venturi Wireless Secures $10 Million in Series C Financing Led by InterWest Partners.
The capital raised will be used to ramp up global sales and marketing programs to support growing market demands for the company's wireless optimization solutions.
Wireless carriers worldwide are currently rolling out Third-Generation (3G) networks to deliver high-speed mobile data services to consumers and business professionals. For consumers, this means they can soon access broadband multimedia content, such as video clips on demand, television, streaming music, and high-quality games on their wireless devices. Business laptop users will be able to take advantage of ubiquitous high-speed Internet access to utilize enterprise applications. These bandwidth-intensive applications require wireless data optimization to achieve the highest level of performance, reliability and network efficiency.
Venturi Wireless' proprietary Adaptive Airlink Optimization(TM) technology maximizes the potential of 3G networks. By increasing network speed, broadening user coverage, and streamlining data traffic, Venturi enables wireless carriers to offer the best user experience possible, while also achieving significant cost savings in network infrastructure and operations. With long-term implementations at Verizon Wireless and DDI Pocket Japan, Venturi Wireless' proven solutions serve mobile broadband users worldwide.
"It's clear that wireless data optimization enables LAN-like performance and reliability with deployments of 3G networks," said John Adler, venture partner at InterWest Partners. "With its patented technologies, scalable product architecture, and strong customer traction, Venturi Wireless continues to win in the marketplace. InterWest Partners invest in technology front-runners with strong management teams, and Venturi has demonstrated distinct leadership in executing their vision."
"There's great momentum in the wireless data marketplace, fueled by carriers' transition to new 3G mobile broadband networks," says John Fazio, chief executive officer at Venturi Wireless. "Our customers have been realizing considerable network performance gains and cost advantages with our solutions. We are excited to receive investments from InterWest, the Intel Communications Fund and our existing investors. We believe there's a large growth potential for this marketplace and we're well positioned to capture the vast opportunities it presents."
About Venturi Wireless
Venturi Wireless is the trusted leader in providing mobile broadband optimization solutions to wireless carriers and enterprises worldwide. Venturi's patented carrier-grade solution maximizes network efficiency and delivers the most compelling mobile data user experience available. With the largest active mobile broadband user base, Venturi Wireless offers unparalleled expertise in mobile broadband deployment. Mobile market leaders who have chosen Venturi Wireless include Cingular Wireless, China Mobile, DDI Pocket, O2, and Verizon Wireless. Venturi Wireless is headquartered in Sunnyvale, California, with regional sales offices in London, Los Angeles, New Jersey, Tokyo and Washington, D.C. Find more information on the Web at www.venturiwireless.com.
About InterWest Partners
InterWest Partners, founded in 1979, is a leading diversified Venture Capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. With $1.6B capital under management, InterWest's experienced partners bring together deep domain knowledge in medical technology, telecommunications and software. InterWest takes a long term, collaborative approach to venture funding, providing early stage and ongoing enlightened capital, management coaching and access to a broad network of resources. Examples of the firm's previous information technology investments include CIENA Corporation, Copper Mountain Networks, Lightera Networks (acquired by Ciena), Silicon Graphics, SiTera (acquired by Vitesse), Stratacom (acquired by Cisco), and Xilinx. InterWest Partners has offices in Menlo Park, California and Dallas, Texas.
About Intel Communications Fund
The $500 million Intel Communications Fund, managed by Intel Capital, was established in September 1999 and focuses on accelerating Intel voice and data communications and wireless networking initiatives. The fund targets companies developing basic communications and semiconductor components and boards, real-time operating systems, software tools and utilities, system level hardware and software, and wireless network services and channels. The Intel Communications Fund has made investments in 17 countries on five continents. For more information about the fund, visit www.intel.com/capital/portfolio/funds/icf.htm.
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|Date:||Jan 24, 2005|
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