Tower Cloud Secures $49M
Tower Cloud, Inc., a St. Petersburg, FL-based wireless backhaul services provider, has secured $49m in additional equity.
The round was led by current investors the Burton Partnership and Knology, with participation from previous institutional investors Sutter Hill Ventures, El Dorado Ventures, Ballast Point Ventures, Kinetic Ventures, ITC Partners Fund and Noro-Moseley Partners, as well as the Florida Growth Fund and CLR Investors.
The company will use the funds to expand into new markets throughout Florida, Georgia, South Carolina, and Alabama.
Founded in 2006 and led by Chairman, CEO and President Ron Mudry, and CTO Tom Guard, Tower Cloud operates a fiber-focused network to backhaul voice, video and data from cell sites for wireless carriers leveraging pure Ethernet broadband technologies.