|By Business Wire||
|May 21, 2014 11:02 AM EDT||
Mimosa Networks, Inc., a pioneer in last mile gigabit wireless technology, announced today a $20 million investment in Series C funding led by returning investor New Enterprise Associates (NEA). Oak Investment Partners also returned for its third round of investment in Mimosa, bringing the company’s total financing to $38 million. Mimosa will use the additional capital to expand its cutting-edge wireless product line, and significantly ramp global sales growth.
“The wireless industry is set to explode in the coming years, and Mimosa’s technology is unique in its ability to help networks scale to meet the needs of the global communications market,” said Greg Papadopoulos, venture partner, NEA. “We are excited to have the chance to ‘double down’ on a company so clearly poised to transform and revolutionize the wireless space.”
Mimosa employs the most advanced Wi-Fi technology to design and manufacture gigabit wireless platforms for Internet Service Providers (ISPs). Mimosa’s product offering, which will be launched later this year, is positioned to innovate in the outdoor wireless space and disrupt the industry through unprecedented leaps in capacity, speed and reliability for networks.
“We are pleased to announce this most recent round of funding, and look forward to not only expanding our product suite, but to also furthering our capacity for profound innovation in the space,” noted Brian Hinman, co-founder and CEO of Mimosa. “The readiness of these firms to aggressively invest in Mimosa only reinforces our confidence that our upcoming product suite will be broadly embraced by the wireless industry and by service providers.”
About Mimosa Networks, Inc.
Mimosa, a pioneer in last mile gigabit wireless technology, leverages the most advanced Wi-Fi technology to design and manufacture outdoor gigabit wireless platforms for service providers demanding fiber speed networks. Mimosa technology provides the highest level of scale, capacity and reliability for multiple verticals and applications. Founded in Silicon Valley in 2012, the company has so far raised a total of over $38 million in venture capital funding. Mimosa is led by Brian Hinman, notable CEO and founder of 2Wire, Polycom and PictureTel and includes experienced executives and key talent from leading telecommunications and consumer product companies. For additional information on Mimosa, please visit www.mimosa.co.
About New Enterprise Associates
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 175 portfolio company IPOs and more than 300 acquisitions. In the U.S., NEA has offices in Menlo Park, CA; New York, NY; Chicago, IL; and the Washington, D.C. metropolitan area. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.
About Oak Investment Partners
Oak Investment Partners, a multi-stage venture capital firm, focuses on high-growth opportunities in the Information Technology, Internet and Consumer, Financial Services Technology, Healthcare Information and Services, and Clean Energy sectors. Oak’s goal is to help dynamic companies transform the way business is done. For additional information, visit http://www.oakvc.com.