IPWireless Secures $15.5 Million in Funding
PRESS RELEASE, November 18, 2009
IPWireless, a leading provider of 3GPP technology for new applications and markets, today announced that it has secured $15.5 million in Series A funding. Spark Capital of Boston, Massachusetts, led the transaction. The company plans to use the capital to accelerate sales of its unique 3GPP based mobile broadband and broadcast solutions into both the government and commercial markets.
“Securing over $15 million in financing during these turbulent financial times speaks to our solid business model, our proven team, and the tremendous growth opportunities that our unique platform and capabilities continue to create,” said Dr. Bill Jones, CEO of IPWireless. “3GPP standards are unequivocally the leading global solution for wireless carriers. However, while the large wireless vendors continue to focus on mainstream spectrum bands and traditional markets for their 3GPP solutions, IPWireless is expanding the benefits of this leading standard into untapped spectrum bands and opening the door to a new generation of mobile applications, devices, and ecosystems looking to capitalize on the explosive wireless market.”
Santo Politi, General Partner at Spark Capital commented, “I’ve been following IPWireless for several years and have always been impressed with their superior technology. They have a unique ability to deliver innovative mobile solutions that open new markets for tier one carriers and change the way government entities, like New York City, improve public safety and operate more efficiently using wireless broadband. IPWireless is a company that has already delivered on their promise and, going forward, they have the potential to break a number of exciting new markets wide open.”
