Enfora Raises $19MEnfora Raises $19M
Radio module developer Enfora raises $19M financing round
October 24, 2006
PLANO, Texas -- Enfora, a radio module developer in the wireless data communications market, today announced it has raised $19 million of growth equity. Enfora was formed as an independent company in 1999. This is the company’s first round of institutional equity capital.
Enfora, which has grown at nearly 100 percent annually for several years, will use the investment to expand sales and marketing to meet the worldwide need for its wireless products. Dave Furneaux of Kodiak Venture Partners and Tom Dolson of Adams Street Partners will both join Enfora’s board of directors.
“We are excited to work with Dave and Tom both because of their success in building companies and their deep understanding of our industry,” said Mark Weinzierl, Founder, CEO and President of Enfora.
Enfora’s family of GSM/GPRS/EDGE and 802.11 products enable remote access to mission-critical data, files and applications. Enfora primarily serves Original Equipment Manufacturers (OEMs). Its main markets include enterprise, telemetry and location based tracking solutions. Additionally, the company manufactures its own line of wireless devices for the enterprise and machine-to-machine (M2M) markets.
“Mark is precisely the type of leader we like to back,” said Tom Dolson, Partner at Adams Street Partners. “He has proven skills and an insightful view of the marketplace.”
“Enfora is well on its way to dominating an extremely important and high-growth marketplace—it has the right technology and leadership, and an impressive customer list,” said Dave Furneaux, Founder and Managing General Partner of Kodiak Venture Partners. “We look forward to working closely with this exceptional team through this next growth phase.”
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