RadioFrame Networks Inc., a Redmond, Wash.-based provider of a platform for converging mobile voice and data, has raised $28 million in combined Series F equity and debt financing. Plainfield Asset Management was joined on the deal by return backers like Ignition Partners, Ericsson Venture Partners and VantagePoint Venture Partners. The company had previously raised around $78 million since 2001.
RadioFrame Networks (RFN), a leading provider of femtocell and picocell radio access solutions today announced the closing of a combined $28 million round of Series F equity and debt financing. The privately-held company is backed by many of the leading names in the wireless industry and has now raised more than $100 million of equity and debt investment since 2001.
The most recent round of funding was led by existing backers which include Ericsson Venture, Ignition Partners, VantagePoint Venture Partners and new entrant, Plainfield Asset Management. Others who have invested in RadioFrame include COM investments (the personal investment arm of wireless pioneer Craig McCaw), Samsung, and Innovacom (formerly Orange Ventures). The newly raised capital will be used to fund operations and development targeting the rapidly growing femto and picocell market opportunity.
“We are excited to continue our funding of RadioFrame and have Plainfield Asset Management join our group of premiere wireless investors,” said RadioFrame Networks CEO Jeff Brown. “With the growing excitement around the femto and picocell categories in wireless networking, it is a great time for RadioFrame as we have developed a cost effective, high performance solution that will deliver the promise of the technology.”
Femtocells are quickly changing the way wireless networks are expanding by providing coverage, capacity and billing uniqueness to residential and business users. The femtocell market is growing dramatically with industry experts predicting more than 100 million femtocell users by 2011. This year, RadioFrame signed a co-operative certification and marketing agreement with Nokia Siemens Network (NSN) to help develop NSN’s 3G Femto Home Access solutions. RadioFrame’s development of femtocell solutions compliments its picocell products that serve a greater geographic area and provides opportunity for wireless network providers to meet demand for network expansion in an extremely cost effective manner.
“Last year we made a big commitment to design and produce our own silicon specifically for femtocell use and that is translating into a meaningful market advantage for RFN,” continued Brown. “Our OmniRadio� processor gives RFN customers both a performance and cost advantage that will drive femtocell adoption across a broad market.”
RadioFrame Networks is the first to market with low-cost chip-based femtocell solutions, based on its OmniRadio� processor, which are designed to help network operators achieve a large share of voice and data traffic, while enhancing service quality and customer loyalty. As an established technology provider to Tier 1 carriers and global OEMs, RadioFrame Networks offers a broad range of complete radio access solutions that are network friendly and integration-ready, to help operators get to market quickly. RadioFrame also provides integrated management capabilities.
Recently, RadioFrame was named as ABI Research’s most innovative femtocell vendor in its most current vendor matrix. RadioFrame finished atop ABI’s innovation category, which judged cost advantages, scalability, plug and play capabilities, service security, solution maturity, multimode cellular support capabilities and future proof upgrade paths.
About RadioFrame Networks, Inc.
Headquartered in Redmond, Washington, USA, RadioFrame Networks, Inc. is the leading provider of complete radio access solutions for Tier 1 mobile operators and OEM partners throughout the world. RadioFrame has pioneered the development of pico and femtocell products that are network-friendly and easily deployed plug-and-play solutions at the lowest cost available. For more information, please visit http://www.radioframenetworks.com.