|
|
Airband
Secures $12.5 Million In Funding To Accelerate Growth In Existing
Markets, Expand Product Set
Other topics: WiMAX Voice Solutions,
WiMAX Mini-PCI Solution
Airband Communications, Inc.
May 29, 2007
New investor M/C Venture Partners leads round, joins Airband board
Dallas, TX -- Airband Communications, Inc., the largest fixed wireless
company for business customers in the United States, announced today
that it closed a new round of $12.5 million in Series C funding, led by
new Airband investor M/C Venture Partners, a Boston-based venture
capital firm focused on convergence in communications, IT services and
media. Existing investors Sevin Rosen Funds, Crescendo Ventures, Key
Venture Partners and Dolphin Equity Partners also participated in the
funding. |
| |
|
|
| |
“Airband will use the
funding to broaden the company’s delivery of integrated, network-based
voice and data services – including dedicated bandwidth up to GigE
speeds, Voice over IP, and remote data protection – to mid-market
companies over its market-leading fixed wireless network,” said Airband
President and CEO Mark Spagnolo. “Already known for providing unmatched
flexibility, scalability and customer service to businesses, Airband’s
existing and new offerings will further enhance the range of
communications options in its high-growth markets. Airband’s highly
reliable and scalable fixed-wireless platform gives companies the
ability to manage all of their services over one connection that meets
bandwidth and application needs with a responsiveness that traditional
providers can’t match.”
In conjunction with the funding round, Salvatore Tirabassi, partner with
M/C Venture Partners, joins the Airband board of directors. Tirabassi
was previously a partner with Dolphin Equity Partners where he served as
a member of the Airband board. Tirabassi’s eight years of investment
experience have been focused in the areas of communications and business
services as well as Internet media.
“We are pleased to have Sal Tirabassi’s continued participation as an
Airband board member, as well as the opportunity to benefit from the
addition of M/C Venture Partners, a communications-focused investor with
an outstanding track record, to our investment team,” said Spagnolo.
“M/C’s involvement, along with the continued participation of our
existing investors and board members, provides us with valuable venture
and strategic resources to draw upon as we move forward.”
“With this funding, Airband can double its network capacity in some of
America’s most technology and business savvy markets,” said Tirabassi. “
WiMAX is redefining how businesses address their strategy for
mission-critical voice and data services, and Airband’s growing product
set gives companies the communications platform they need to be
successful in a world where instantaneous communications are essential.
We believe that Airband’s timing, accomplished management team, market
strategy and technology are right on target for near- and long-term
success.”
About Airband Communications, Inc.
Airband Communications, Inc. is the largest fixed wireless broadband
provider for businesses in the United States. The company delivers a
comprehensive portfolio of high-speed data, Voice over IP, remote data
protection, security and other managed solutions – all over one of the
industry's most scalable last-mile networks. Airband bypasses the local
phone company to provide faster provisioning intervals, immediate
scalability and complete redundancy for its customers. As a result,
3,500 businesses already count on Airband for their broadband service.
Airband is headquartered in Dallas, Texas. More information about the
company is available at www.airband.com.
About M/C Venture Partners
M/C Venture Partners invests in emerging growth companies in the
communications services, related information technology, and new media
sectors throughout North America and Western Europe. The principals of
M/C Venture Partners have over two decades of venture capital investing
experience in emerging growth communications companies of all stages.
During this period, the firm has managed over $1.8 billion of
institutional capital, generating returns in the top quartile for
venture capital funds. Companies the firm has backed include Metro PCS,
which recently completed a highly successful $1.3B IPO, TeleCorp PCS,
Triad Cellular, Crowley Cellular, and Brooks Fiber. Currently investing
M/C Venture Partners VI, a $550 million fund raised in 2006, M/C Venture
Partners has strong institutional backing from the nation's leading
pension funds and endowments. The firm has offices in Boston and San
Francisco. For more information please visit www.mcventurepartners.com. |
|
Back to Newsroom
|
| |
|
