SpiderCloud Wireless Raises $25 Million

SpiderCloud Wireless, a Santa Clara, Calif.-based developer of the enterprise radio access network (E-RAN) platform for mobile operators, has raised $25 million in Series B funding. Opus Capital led the round, and was joined by Shasta Ventures and return backers Charles River Ventures and Matrix Partners.

PRESS RELEASE

SpiderCloud® Wireless, Inc., a developer of wireless technologies and the pioneer of the Enterprise Radio Access Network (E-RAN) platform developed for mobile operators, today announced the closing of its Series B financing round. The $25 million round was led by Opus Capital along with new investments from Shasta Ventures and existing Series A investors Charles River Ventures and Matrix Partners.

“Investing in SpiderCloud Wireless means investing in a solution to address the network capacity issues facing mobile operators today,” said Rob Coneybeer, managing director at Shasta Ventures. “The indoor wireless E-RAN platform has the potential to change how radio access networks are deployed for years to come.”

The company also announced the addition of Behrooz Parsay as its new senior vice president of engineering and operations. Mr. Parsay has over 20 years experience in bringing wire-line and wireless products and systems to market and has previously held RF engineering and management positions with Aperto Networks, Ericsson, DIVA, Kestrel, and Lantern Communications. Mr. Parsay holds a Bachelor of Science in Electrical Engineering from Chico State University and a Master of Science in Engineering Management from Santa Clara University.

“SpiderCloud Wireless is unique in its approach to solving the indoor capacity and coverage problems for mobile operators,” said Behrooz Parsay. “I’m excited to join a company comprised of so many people with proven success in the wireless industry and look forward to making my contributions to the company, its customers and partners.”

“Behrooz Parsay is a great addition to our team and with his broad network experience, I am confident that we will deliver a world-class system to our valued customers,” said Peter Wexler, co-founder and board member of SpiderCloud Wireless. “I have had the pleasure of pulling together an outstanding engineering team to develop the initial product and look forward to making continued contributions to the company.”

“We are excited to start the New Year on a high note with investments secured and a well-rounded executive team,” said Michael Gallagher, CEO of SpiderCloud Wireless, Inc. “The funds will allow SpiderCloud to deepen its partnerships with enterprise solution providers to introduce a new class of mobile Internet services.”

SpiderCloud Wireless is speaking at Mobile World Congress in Barcelona, February 15-18.
Michael Gallagher, CEO, will participate on the panel, “Taking Enterprise Solutions to Market,” which is taking place on Wednesday, February 17 at 14:00 (CET).

SpiderCloud Wireless’ E-RAN platform is a scalable system comprised of a SmartCloud® Services Node (SCSN) and Radio Nodes (SCRN). Advanced features bring ‘zero touch’ installation and low-cost routing options for voice and data to the world of mobile radio access networks. The result is a purpose-built and self-organizing wireless network capable of extending the enterprise’s full suite of voice and data applications and services to any standard handset or computing device. E-RAN brings together the functionality and security of cellular networks with the utility and economics of enterprise Wi-Fi data networks.

About SpiderCloud Wireless, Inc.

SpiderCloud Wireless, Inc. is a developer of wireless technologies and the pioneer of the Enterprise Radio Access Network (E-RAN) platform. The company is privately funded and is located at 2500 Augustine Drive, Suite 200, Santa Clara, CA 95054. USA. www.spidercloud.com SpiderCloud and SmartCloud are registered trademarks of SpiderCloud Wireless, Inc. ©2010 SpiderCloud Wireless, Inc. All rights reserved.