|By Business Wire||
|March 23, 2011 07:01 AM EDT||
ExteNet Systems, Inc. (ExteNet) was named one of the top venture-backed companies in the United States in 2011 by the Wall Street Journal. ExteNet was fifth on the list of 50 companies in the business newspaper’s ranking called “The Next Big Thing.”
The ranking is designed to highlight companies that have the potential to succeed in a competitive environment. Young companies working in health care, mobile communications and business software topped the Wall Street Journal’s second annual “The Next Big Thing” list, published in March. ExteNet was selected from a pool of 10,600 privately held, venture-backed companies in the U.S.
The award demonstrates that ExteNet, a North American distributed network architecture leader in the wireless industry, is recognized as a keen competitor in the business community.
To be eligible for the ranking, companies must have received an equity round of financing in the past three years and be valued at less than $1 billion. The ranking is determined from financial and qualitative components based primarily on the history of success for the investors and executives, the amount of capital raised, recent growth in the company’s value and editorial input from Wall Street Journal reporters and editors.
“We are very pleased and honored that ExteNet Systems was not only named to this high-profile list of 50, but was ranked among the top five companies,” said Ross Manire, Chairman and CEO of ExteNet. “With the backing of our key investors, the company has been investing in technology, expanding capabilities and growing rapidly. We are well positioned to support our customers and serve the demand for expanded wireless network infrastructure capabilities,” he said.
ExteNet received its latest round of equity financing, totaling $128.4 million, in January 2010. Seven companies participated in the round: SSP Offshore LLC, an affiliate of Soros Fund Management LLC; SBA Communications Corporation; Centennial Ventures; Columbia Capital; Sevin Rosen Funds; CenterPoint Ventures; and Palomar Ventures.
About ExteNet Systems, Inc.
Across North America, ExteNet Systems, Inc. designs, builds, owns and operates outdoor and indoor wireless networks for wireless service providers, government agencies, along transportation corridors, and in health care, corporate offices, high-rises, and higher education.
“ExteNet” and “iDuct” are registered trademarks of ExteNet Systems, Inc. and its subsidiaries.