To accelerate deployment of Gigabit Ethernet wireless solutions for enterprise and 4G/wiMAX backhaul, BridgeWave Communications has secured $7.8 million in series 3 financing. The funding round includes existing investors plus the additions of SDL Ventures and Intel Capital.
BridgeWave will use the proceeds for the expansion of sales, marketing, service and manufacturing functions to meet the escalating demand for its gigabit wireless solutions. To date, BridgeWave has deployed thousands of wireless gigabit radios for inter-building LAN extension as well as network operator high-capacity access and backhaul services. BridgeWave will utilize the funds to help achieve its goal of widespread adoption for the company's solutions for 4G/WiMAX mobile infrastructure deployments.
According to Amir Makleff, president and CEO of BridgeWave, the series 3 financing will reinforce the company's ability to address existing and evolving requirements for wireless GigE connectivity. "The proliferation of bandwidth-intensive applications—and the emergence of high-speed, 4G networking—are driving unprecedented demand for BridgeWave's products," he added. "This latest round of financing will ensure that BridgeWave is well positioned to capitalize on these emerging market opportunities. We are thrilled to welcome SDL Ventures and Intel Capital as new investors to support and sustain strong business growth", noted Makleff.
According to BridgeWave, it's 60 GHz and 80 GHz links, which offer 10 times the bandwidth of comparably priced 100 Mbps Ethernet wireless solutions, have been implemented by Fortune 500 companies; major healthcare providers; multiple city, state and federal government agencies as well as a growing number of wireless and fixed-line network operators.
"The availability of high-capacity wireless backhaul is a strategic enabler for the large-scale deployment of 4G/WiMAX access networks," stated David Flanagan, director of mobile communications for Intel Capital.
In related news, BridgeWave also announced that former Juniper Networks executive Peter Wexler has joined the company's board of directors. Wexler, who has held key executive engineering positions at both Juniper and Bay Networks, brings to the board extensive experience providing networking solutions to both the enterprise and operator markets.