Cradlepoint, a Boise, ID-based provider of cloud-based network solutions for connecting people, places, and things over wired and wireless broadband, closed an $89m Series C funding.
The round was led by TCV. In connection with the financing, Ted Coons, General Partner at TCV, and Doug Gilstrap, Venture Partner at TCV, joined Cradlepoint’s board of directors.
The company intends to use the funds to expand product initiatives in Software-Defined Networking (SDN), advanced 4G and 5G wireless connectivity, and enterprise Internet of Things (IoT).
The company’s diverse customer base includes 50 percent of Fortune 100, 75 percent of the world’s top retailers, and 25 of the largest US cities.
Led by George Mulhern, CEO, Cradlepoint provides cloud-based network solutions for connecting people, places, and things over wired and wireless broadband. Cradlepoint NetCloud is a software and services platform that extends the company’s 4G LTE-enabled multi-function routers and ruggedized M2M/IoT gateways with cloud-based management and software-defined network services.
Over 15,000 enterprise and government organizations around the world use Cradlepoint’s solutions to keep critical sites, workforces, vehicles, and devices always connected and protected while major service providers use the company’s network as the foundation for innovative managed service offerings.