CradlePoint Technology Closes $7.5M Series B Venture Funding Round
CradlePoint Technology, a Boise, Idaho-based company that engineers and manufactures cellular routers and software platforms that facilitate secure mobile computing via the 3G and 4G mobile broadband networks, has closed a $7.5m Series B venture funding round.
The round was led by OVP Venture Partners, with participation from existing investor Highway 12 Ventures.
In conjunction with the funding, Gerry Langeler, Managing Director of OVP Ventures, has joined CradlePoint’s board of directors.
The company intends to use the funds to accelerate deployment of its 4G/3G routers and services into enterprise retail and branch locations.
Led by CEO Pat Sewall, CradlePoint has developed the WiPipe™ technology, which is designed to provide access and traffic management to improve the security and quality of the online mobile experience.