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In a world where having internet connectivity is the lifeblood of just about every business, Cradlepoint<\/a> helps customers deliver consistent networking services, even when there is a lousy cell signal. Today the company announced it had secured an $89 million Series C investment from TCV.<\/p>\n TCV is the only investor this round, and as part of the deal TCV\u2019s general partner Ted Coons and venture partner Doug Gilstrap will join the Cradlepoint board. Today\u2019s investment brings the total raised to over $142 million, according to the company.<\/p>\n Cradlepoint helps solve difficult connectivity problems for its customers. Whether it\u2019s an isolated location of a branch office, inside vehicles or machine-to-machine communications in an Internet of Things scenarios, it\u00a0provides\u00a0internet access. That could be a router on a school bus to let kids do their homework, in the trunk of a police car to deliver dashboard cam video to a central server or a sensor transmitting data from a factory floor to server.\u00a0It handles network management and security aspects associated with the connectivity as a cloud service.<\/p>\n \u201cWhen you think about what\u2019s happening to enterprise networks, it\u2019s not just about connecting branch offices anymore. Going forward, it\u2019s about connecting sites and people in those sites out in the wild, mobile workers \u2014 and all of the things are getting connected to networks,\u201d CEO George Mulhern explained.<\/p>\n He said that, in the early days of the company, it offered\u00a0fail-over solutions, so if the wired network went down, a customer\u00a0still had connectivity. As companies have been moving to the cloud, constant connectivity has become\u00a0critical, he said. Today, the company provides\u00a0fixed wireless access, so when you can\u2019t get good broadband connectivity,\u00a0Cradlepoint can provide that.<\/p>\n Cradlepoint has around 500 employees and its headquarters are in Boise, Idaho. It\u2019s a long way from Sand Hill Road, yet it was still able to secure a significant round from an established Silicon Valley firm. Mulhern admitted that it was sometimes difficult to get the attention of investors in California from his location, some of whom would balk at investing in companies with board meetings so far from home, but TCV wasn\u2019t put off.<\/p>\n It saw a company with a lot of growth potential and it wasn\u2019t afraid to make a substantial investment. \u201cCradlepoint\u2019s business \u2014 ubiquitous connectivity \u2014 could not be more strategic to our always-connected world,\u201d TCV\u2019s Ted Coons said. \u201cBy increasing the availability of bandwidth, Cradlepoint reduces the cost and constraints of the kind of connectivity people worldwide have come to want and expect in their daily lives,\u201d he added.<\/p>\n As for the $89 million, Mulhern says the company has 15,000 customers and it wants to increase that by expanding internationally. It also wants to pour some money into research to enhance their\u00a04G\/LTE coverage, while preparing for a 5G future whenever that might occur.<\/p>\n Featured Image: mattjeacock<\/a>\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"Network](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/03\/gettyimages-508372883.jpg?w=680\")
In a world where having internet connectivity is the lifeblood of just about every business, Cradlepoint helps customers deliver consistent networking services, even when there is a lousy cell signal. Today the company announced it had secured an $89 million Series C investment from TCV. TCV is the only investor this round, and as part of the deal TCV’s general partner Ted Coons and… Read More<\/a><\/p>\n\n<\/img><\/a>
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