Aperto Networks Raises $26 Million in Follow-On Series E Financing
Funds to be used for WiMAX product deployments by carriers globally and next generation product development
Milpitas, Calif., (April 10, 2006) – Aperto Networks, developer of the world’s most advanced WiMAX base stations and subscriber units, announced today it completed a Series E follow-on financing round of $26 million, bringing the company’s total capitalization to $120 million.
The financing round was led by GunnAllen Venture Partners with significant participation from existing investors including JK&B Capital, Canaan Partners, Alliance Ventures, Innovacom, JAFCO, and Labrador Ventures.
“Aperto Networks remains the best positioned WiMAX pure play,” said, Mark Solovy, Managing Director of GunnAllen Venture Partners. “The company enjoys first to market advantage with the industry’s most robust, carrier-grade WiMAX Forum Certified™ base stations.”
“This latest funding tranche is an important milestone for Aperto and its global carrier customer base” said Philip Marshall, Vice President, Yankee Group. “Aperto has a good reputation for delivering reliable and robust carrier-grade WiMAX infrastructure that will be bolstered with this additional funding.”
“Aperto Networks continues to impress us by demonstrating innovation and consistent growth in the burgeoning WiMAX space,” said Emmy Johnson, Principal Analyst, Sky Light Research. “Aperto’s targeted focus and steadfast approach to the market helps make it attractive to investors as the
se are qualities that propel companies to the forefront especially in highly competitive and dynamic markets like WiMAX.” “We are excited to welcome our newest investor, GunnAllen Venture Partners and are gratified to have the continued support and of our existing investors.” said Dr. Reza Ahy, Aperto Networks’ CEO. “We will use the funds to rollout our fixed WiMAX product and develop our next generation mobile WiMAX products.
About Aperto Networks
Aperto Networks helps leading service providers deliver affordable wireless voice and broadband profitably by building the world’s most advanced WiMAX base stations and subscriber units. Aperto fundamentally changes the economics of delivering voice and broadband services through IP-rich, point-to-point and point-to-multipoint networks, allowing carriers to offer a wider variety of services to more customers using less equipment. Its carrier-class WiMAX technology offers industry-leading subscriber density, quality of service, ease of use and reliability. Aperto is a founding board member of the WiMAX Forum as well as a founder and lead contributor to IEEE 802.16 and the ETSI-BRAN standards. Serving more than 200 customers in 65 countries, Aperto Networks is based in Milpitas, California. For more information on Aperto Networks, go to www.apertonet.com.