LITTLETON, Mass.--(BUSINESS WIRE)--Movik Networks, a company focused on developing wireless networking products aimed at enabling an Intelligent Radio Access Network (RAN) for high value content delivery, today announces it has received $25 million in funding. Oak Investment Partners led the round while previous investors Highland Capital Partners and Northbridge Venture Partners continued to participate in company financings.
Movik’s products enable wireless operators to more efficiently deliver the ever increasing volume of data resulting from subscriber demands for content on mobile devices. In deployments and field trials, Movik’s market leading technology dramatically improves the mobile broadband experience for subscribers by intelligently delivering content over the RAN. Operators have experienced substantial reductions in the time it takes for subscribers to open web sites and videos while materially reducing the amount of traffic sent over the RAN.
Movik intends to use the financing to scale field operations to support the company’s growing deployments and trials worldwide, and to accelerate development of the company’s unique, RAN aware mobile content delivery technology. Last quarter, the company announced an expanded presence in Europe and the Middle East and the appointment of veteran telecommunications executive, John St. Amand, as Chief Executive Officer of the company.
“We have been impressed by extraordinary growth of mobile broadband traffic and concerned about how well Radio Access Networks (RAN) will scale to handle the amount of web traffic requested by smart phones,” says Ed Glassmeyer, Managing Partner of Oak Investment Partners. “Movik addresses the issue with a solution that understands where traffic originates and what device type is requesting it. Movik schedules, paces, and off-loads traffic, providing better RAN utilization and throughput, while improving the user experience.”
“Movik is transforming the way mobile networks deliver content to mobile subscribers. Our innovative technology has attracted top operators who have been seeking solutions for the challenges presented by the enormous growth in mobile broadband,” states John St. Amand, Chief Executive Officer of Movik Networks. “I’m especially pleased to receive support from our preeminent investor, Oak Investment Partners, as well as the continued support from our industry leading existing investors, North Bridge Venture Partners, and Highland Capital Partners.”
About Oak Investment Partners
Oak Investment Partners is a multi-stage venture capital firm. The primary investment focus is on high growth opportunities in Broadband Internet and Wireless Communications, Information Technology and Software Outsourced Services, Consumer Internet/New Media, Financial Services Technology, Healthcare Information and Services, Clean Energy, and Retail. Over a 33-year history, Oak has achieved a strong track record as a stage-independent investor, funding qualified companies at key points in their lifecycle. Oak has been involved in the formation of companies, funded spinouts of operating divisions and technology assets, and provided growth equity to mid- and late-stage private businesses and to public companies through PIPE investments. For more information about Oak Investment Partners, please visit: www.oakinv.com.
About Highland Capital Partners
Highland Capital Partners was founded with the mission of helping great people build great companies. Since its inception in 1988, the firm has taken a sector-focused approach to investing in exceptional communications, consumer, digital media, healthcare, and information technology companies. With over $3 billion of committed capital and offices in Boston, Silicon Valley, Geneva, and Shanghai, Highland has invested in and worked to create such firms as Ask Jeeves, Avid Technology, CheckFree, Conor Medsystems, Coremetrics, lululemon athletica, Lycos, MapQuest, Navic Networks, Ocular Networks, Odyssey Healthcare, P.A. Semi, Quattro Wireless, Quigo, Starent Networks, Sybase, Telica and VistaPrint. For more information about Highland, please visit: www.hcp.com.
About North Bridge Venture Partners
North Bridge Venture Partners is an active, bi-coastal, early-stage venture capital firm based in Boston, Massachusetts and San Mateo, California. Established in 1994, North Bridge provides seed-to-growth financing and company-building expertise. Together with North Bridge Growth Equity, our mid-market focused growth capital fund, North Bridge manages over $3 billion. For North Bridge Venture Partners, success is derived through a partnership with entrepreneurs that produce industry-leading companies in large emerging markets. Historically, the firm's partners have played a significant role in organizing, starting and building successful companies. Working in concert with entrepreneurs, North Bridge adds value by providing strategic guidance, sharing operating experience, industry specific knowledge, team-building skills and an in-depth understanding of both private and public financings. North Bridge's sector focus includes Software, Communications & Infrastructure, Healthcare Technology, Digital Media, and Materials. For more information about North Bridge, please visit: www.northbridge.com.
About Movik Networks
Movik Networks’ innovative solutions enable operators to improve their subscribers’ experience by intelligently delivering mobile content from the edge of their networks. The company’s technology leverages network and content awareness to quickly and easily scale content distribution, establishes policies and procedures based on real-time network conditions, and implements traffic management techniques that make the most efficient use of the existing network infrastructure. To learn more about Movik Networks, please visit: www.movik.com.