YOKNEAM, Israel -- Saguna Networks, a Mobile Edge Computing pioneer making mobile broadband faster, simpler and more economical, announced today that it closed a financing round led by SoftBank Ventures Korea Corp. (SBVK) and Akamai Technologies (NASDAQ: AKAM) supported by Saguna’s existing investors. Saguna will use the funding expand the company’s presence in North America, Asia and Europe as well as accelerate product development.
Saguna helps mobile operators improve user experience, monetization and network economics by bringing internet content and applications into the Radio Access Network (RAN); as close as possible to mobile users. The Saguna CODS Mobile Edge Computing platform creates secure and direct fast-track connections between internet content providers and web applications to mobile users and promotes network-aware content optimization with real-time feedback.
"We are delighted that Saguna Networks will be SoftBank Ventures Korea Corp's (SBVK) first investment in Israel. Driven by users' needs to feel constantly connected, mobile traffic is set to undergo explosive growth in the next 5 years with operators increasingly turning to technology to address bottlenecks. Saguna's -Open-RAN is a compelling solution enabling operators to meet their critical future needs" said Daniel Kang, COO of SBVK. As part of the investment, SBVK's Venture Partner, Ben Weiss, will join Saguna's board as an Observer.
“With a combined understanding of mobile network conditions and the content and applications traversing the cellular network, a CDN supports a business model where mobile network operators and over-the-top (OTT) content providers develop smarter applications and create new revenue streams,” said Lior Netzer, vice president and general manager, Emerging Mobile Business Unit, Akamai. “Working together with Saguna, through both Akamai’s investment and technology collaboration, is intended to help broaden the possibilities presented by Saguna’s pioneering Mobile Edge Computing solution. Interestingly, Akamai and Saguna have already demonstrated the first CDN operating inside the mobile base station as a proof of concept and are actively exploring new collaborative opportunities. Further, I look forward to joining the Saguna board as an observer.”