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NEWS |
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| October 03 2006 |
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The Series D financing brings the total investment in BelAir Networks to $65.4 Million. Ventures West is joined by Trilogy Equity Partners as newest investors in mobile broadband mesh networking leader. BelAir Networks, the leading provider of mobile wireless broadband mesh network solutions, announced recently a $21.4 Million Series D financing round, led by Ventures West Management Inc. Trilogy Equity Partners, co-founded by former T-Mobile USA and Western Wireless Chief Executive John Stanton, also participated in this highly successful round.“In the last year, BelAir has landed top-tier customers in each of its target markets – municipal, cable, and cellular,” said Sam Znaimer, Senior Vice President, Ventures West Management Inc. “This funding will give BelAir expanded resources with which to respond to strong market demand and to accelerate its sales and marketing initiatives.” ”Trilogy Equity Partners looks for innovation, passion, and execution excellence – BelAir Networks and its management team deliver on all three,” stated Tim Wong, former CTO, T-Mobile USA, and co-founder of Trilogy Equity Partners. “The company’s proven and cost-effective mobile broadband mesh networks are differentiated by their carrier-class capacity, reliability and scalability. Only BelAir is applying its technology today to backhaul live cellular traffic.” Existing investors Comcast Interactive Capital, T-Mobile Venture Fund, Panorama Capital (formerly JPMorgan Partners), VenGrowth Capital Partners Inc., BDC Venture Capital, and MMV Financial also participated in this round. In addition to the equity financing, MMV Financial also provided a $5 Million venture loan. The capital received from this financing will support BelAir Networks momentum in the municipal networks market where the company has recently won competitive bids for citywide wireless networks in Minneapolis, City of London, UK and Toronto, Canada. The funds will also be used to continue the company’s highly successful sales and marketing activities in the cable and cellular industries, and to further expand into international markets. BelAir‘s wireless broadband mesh technology is deployed in more than 150 networks worldwide. “We are pleased to have Ventures West and Trilogy Equity Partners as new investors, both of whom have proven track records in backing successful companies in the telecommunications and wireless networking industries,” said Bernard Herscovich, President and CEO of BelAir Networks. “In each of our funding rounds, we have been fortunate to garner interest from new strategic investors that have placed a significant premium on the proven value of our mobile broadband mesh networks.” |
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