Aperto Raises $22M

Aperto Networks captures $22M in Series C funding to fuel volume delivery of company’s broadband access solutions

December 16, 2002

1 Min Read

MILPITAS, Calif. -- Aperto Networks, a leading provider of new-generation broadband wireless access systems, today announced it has closed $22 million in Series C equity financing, bringing the company’s total financial backing to $57M. Canaan Partners led the round, with significant participation from existing investors Alliance Ventures, Innovacom, Tyco Ventures and Satwik Ventures. The new round will help Aperto expand its deployments well beyond the base of 32 service providers in 22 countries accomplished within the past 12 months. This extensive base of fixed wireless deployments now serves thousands of small and medium-sized enterprises (SMEs) in Europe, the Americas and Asia, and provides a strong foundation for Aperto’s expanded role in broadband convergence, including backhaul solutions in Wi-Fi (IEEE 802.11) hotspot and mobile networks. “Our success in building a worldwide carrier base and demonstrating a strong growth path have been key to attracting this round of investors,” said Aperto CEO, chairman and founder Reza Ahy. “We solidly executed on our business plan with pragmatic resource management. The PacketWaveâsolution has proven its viability as a carrier-class and business-grade network technology, and serves as a key element in broadband convergence. We look forward to extending our product reach from fixed broadband access for SMEs and SOHOs to the delivery of key solutions for Wi-Fi hotspot and cellular network backhaul.”Aperto Networks

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