NetMotion Grabs $5M

NetMotion Wireless secures $5M in series B funding, led by Northwest Venture Associates and SeaPoint Ventures; adds board member and senior execs

August 2, 2002

1 Min Read

SEATTLE -- NetMotion® Wireless Inc., a leading supplier of software solutions for wireless networks, today announced the close of $5 million in Series B funding. The round was led by Series A investors Northwest Venture Associates and SeaPoint Ventures, and included major existing inside investors WRQ Inc., Alexander Hutton Venture Partners, Digital Partners and SilverHaze Partners. The company will use the new capital to accelerate product development, expand sales and marketing efforts, and fund ongoing business operations. In addition, the company announced the appointment of Tom Johnston, managing director at Alexander Hutton Venture Partners to the NetMotion Wireless board of directors. Recent executive team appointments include Randy Tinsley as vice president of business development and Andy Willett as senior vice president, product management and marketing. "Northwest Venture Associates re-invested in NetMotion Wireless because it builds and delivers core products that guarantee customer security, InterNetwork Roaming, application persistence and bandwidth optimization across all networks," said Chris Brookfield, general partner of Northwest Venture Associates. "Customers tell us that NetMotion Wireless is key to providing their mobile workers with seamless and secure wireless data. With the growing acceptance of 802.11, the company's sales are expected to continue accelerating." NetMotion Wireless Inc.

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