Airband Gets $12.5M 642328

Airband secures $12.5 million in funding to accelerate growth in existing markets, expand product set

May 29, 2007

2 Min Read

DALLAS -- 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."

Airband Communications Inc.

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