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Venture Capital Funding and M&A Quarterly

Telecom • Wireless • Mobile • Communications

4th Quarter, 2007 – United States

Published by: VentureDeal

Summary

During the final quarter of 2007, the four reviewed sectors raised a total of $732 million in new venture capital investment between 70 companies. Funding amounts were 4% less in the aggregate than the previous quarter. The number of companies funded also dropped, by 8%. These numbers reflect essentially flat to slightly lower activity versus the previous quarter. (Table 1) M&A transaction activity was up 227% over the previous quarter, with 12 companies receiving a total of $990 million in consideration. (Table 2)


Funding Activity

Telecom

In the Telecom sector, the largest funding event was for Telecom Transport Management (TTM) of Seattle, WA, which received $120 million for its series D round. TTM is in the process of building out its TDM and Ethernet backhaul networks for wireless carriers in the U.S. The company is backed by a large syndicate of investors and the round was co-led by Battery Ventures and Columbia Capital.

IPTV company Kasenna raised additional funding of $2.3 million in an inside funding round. Kasenna’s technology helps telecom service providers build commercial-grade IP video networks for video on demand (VOD) television. The company is backed by Intel and others and has received more than $36 million in venture capital funding.

In the services sector, IntelePeer, Inc. received $4.3 million to help eCommunities (social networking sites) obtain the best combination of telecommunications carriers for scaling their bandwidth-intensive applications. The round was funded by Ann Arbor, MI-based EDF Ventures and an undisclosed investor.

Wireless

Wireless companies raised $237 million among 23 companies during the quarter. A number of wireless networking companies in a variety of sub-sectors were rewarded with new and follow-on fundings.

In the sensor market, Boulder, CO-based Tendril Networks received an additional $1.1 million to continue development of its wireless sensor technologies. SynapSense also raised $1 million and added top-tier VC Sequoia Capital to its roster of investors. The company is developing a configurable wireless sensor networking platform.

Firetide received $14.4 million in its series D round to increase sales and marketing efforts for its wireless mesh technology solutions for the real-time surveillance and mobile infrastructure markets.

In the carrier products space, Venturi Wireless garnered $7.5 million from a syndicate of venture capital firms in order to continue providing its suite of mobile broadband optimization solutions to wireless carriers. The company has received numerous rounds of funding and recently announced a customer win, with Europe-based Forsbrand Telecom implementing Venturi’s hosted option for enhancing mobile broadband data service offerings.

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