SkyPilot Raises $3.4 Million

SkyPilot Networks Inc., a Santa Clara, Calif.-based provider of carrier-class wireless mesh solutions, has raised $3.4 million in new VC funding. Return backers include August Capital and Mobius Venture Capital. SkyPilot has now raised over $70 million in total VC funding since 2001. 

 

PRESS RELEASE

SkyPilot Networks, a leading provider of carrier-class broadband wireless networks, today announced the closing of a new round of venture capital financing. The $3.4 million of newly announced funding comes from SkyPilot's existing investors, including August Capital and Mobius Ventures, and brings the total raised since inception to over $70 million. The primary use of the funds will be to continue to expand sales and bring new products to market for the growing customer base of broadband wireless service providers.

“The recent financing is designed specifically to bring SkyPilot to profitability,” said Paul Gordon, president and CEO of SkyPilot. “We continue to focus our attention on helping wireless operators build successful businesses by using our highly differentiated products, and our success in this marketplace has allowed us to build a strong business of our own. With this financing, we will continue our commitment to our service providers through our distribution and reseller programs as well bringing new innovative solutions to market.”

“SkyPilot continues to demonstrate success in the broadband wireless market,” said Dave Marquardt, co-founder of August Capital and member of SkyPilot's board of directors. “As the worldwide demand for broadband services over wireless networks continues to increase, service providers are realizing that differentiated products like SkyPilot's can materially improve their ability to profit from these trends. This growth opportunity, along with SkyPilot's proven ability to execute, provides the basis for our optimism and continued financial commitment.”

About SkyPilot Networks

SkyPilot Networks is a leading provider of carrier-class wireless mesh solutions that enable service providers, municipalities, and public safety agencies to rapidly deploy cost-effective broadband access, voice over IP, public and private Wi-Fi access, video surveillance, and other wireless applications. The SkyPilot solution utilizes a patent-pending synchronous mesh architecture with high-speed switched directional antenna arrays that extends reach, mitigates interference, and maximizes spectral reuse. The result is a highly scalable, reliable, and deterministic mesh network that simplifies design, increases deployment flexibility, and dramatically reduces equipment and operating costs. SkyPilot has proven scalability and reliability with over 35,000 units shipped to customers in over 50 countries. SkyPilot is a privately held company based in Santa Clara, California. For more information on SkyPilot and its solutions, contact pr@skypilot.com or visit http://www.skypilot.com.