Aperto Networks (Booth 831), a leading WiMAX systems provider, has raised $17 million in the first tranche of a Series E financing round. The funding was led by Canaan Partners and was raised from existing investors, including JK&B Capital, Alliance Ventures, Innovacom, Tyco Ventures, Labrador Ventures and Satwik Ventures. The latest round brings the companys total capitalization to $94 million.
Aperto will use the funds to expand its global market presence and to broaden its WiMAX solutions portfolio.
Aperto Networks has navigated the transition from pre-WiMAX to true WiMAX solutions availability with skill and effectiveness, says Deepak Kamra, general partner with Canaan Partners and Aperto board director.
The company continues to achieve its targeted revenues and sustain customer loyalty, and remains a significant leader in the WiMAX certification process. The investors are very impressed with Apertos growth and achievements in a highly competitive, hyper-expanding market.
Aperto Networks continues to demonstrate growth and success in the burgeoning broadband wireless and WiMAX space, says Lindsay Schroth, senior analyst for Yankee Group. Broadband wireless access, from Mali to Milwaukee, is becoming a cost-effective means to bridge the digital divide and offer an alternative broadband solution. Moreover,WiMAX will enable the growth of new service providers and new applications to meet the growing demand for broadband around the world.
We are ramping up for our 4Q 2005 WiMAX Forum certification, ahead of other major players, and expect to be fully ready for commercial delivery of an array of WiMAX-certified products shortly thereafter. Demand across all fronts is strong, and we have worked diligently for this inflection point, says Reza Ahy, Aperto Networks chairman and CEO.
Aperto Networks PacketMAX and PacketWave base stations and subscriber units enable both licensed and unlicensed frequency broadband wireless access for business-grade users and consumers. Service providers use Apertos award-winning systems to deliver wireless T1/E1 and Fractional T1/E1 speeds, wireless VPNs and VLANs, disaster recovery hotspot, cellular and nomadic wireless backhaul, as well as VoIP and streaming media.