Federated Wireless, the leader in shared spectrum and CBRS technology, today announced that it has closed on an additional $14 million in Series D funding bringing the total raised in the round to $72 million. With the additional funding, the company added affiliates of Fortress Investment Group, Giantleap Capital, and LightShed Ventures to its list of investors. Existing investor GIC, Singapore’s sovereign wealth fund, also participated.
“Private wireless is one of the most transformative enterprise technologies to emerge since the cloud,” stated Federated Wireless CFO Loren Buck. “We continue to invest aggressively to support explosive demand, maintain our industry leadership, and deliver on the promise of 5G private wireless for our clients.”
The additional investments bring total raised to date to approximately $213 million and reflect the market momentum of 5G private wireless and related edge solutions. The company is concentrating its latest rounds of funding on programs to speed time to market for new product capabilities and ecosystem development.
The transformative power of shared spectrum in private wireless
Private wireless is a disruptive technology that is changing the way that businesses build enterprise networks. It harnesses a ubiquitous resource called shared spectrum, also known as CBRS – an innovative technology that delivers the best attributes of traditional wireless and Wi-Fi, with lower fixed cost, higher quality, and greater efficiency and scale.
As the first to market with a Spectrum Access System (“SAS”), Federated Wireless is the nationwide leader in enabling, commercializing, and driving adoption of shared spectrum. The company has played a pivotal role in building the ecosystem and infrastructure to support mainstream adoption of shared spectrum and private wireless solutions. It has made it possible for businesses to deliver innovations that defy imagination in the categories of IoT, virtual and augmented reality, digital twinning, telemedicine, drones, robotic agriculture, artificial intelligence and more.
Federated Wireless was advised on the transaction by Wilmer Cutler Pickering Hale and Dorr LLP. J.P. Morgan Securities LLC acted as placement agent on the transaction.