Reports

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Venture Capital Funding Quarterly

Telecom • Wireless • Mobile • Communications

4th Quarter, 2008 – United States

Published by: VentureDeal

Summary

Telecommunications, Wireless, Mobile and Communications technology startups raised $384 million during Q4 08, an increase of 2% from the previous quarter. 66 companies received funding, an increase of 47% quarter over quarter. Previously, these four sectors showed a downward trend of lower funding in the aggregate. The current quarter indicated a stabilization of funding amounts.

As one bright spot, Telecom companies indicated strong financing volume growth, while Mobile firms continue to receive a significant percentage of the overall funding among the four sectors.


Funding Activity

Telecom

The Telecom sector showed a dramatic increase in funding, with a 105% improvement in funding amounts and a 100% increase in the number of companies funded during the quarter. As in the previous quarter, relatively few companies received the lion's share of the funding. IntelePeer raised $18 million in its third round of venture capital financing. The company provides outsourced infrastructure services to telecommunications companies throughout the world.

Mavenir Systems secured $17.5 million from a syndicate of venture capital firms. The company said it would use the funding proceeds to expand its product offering, geographic coverage and customer support.

Telephony company Ifbyphone raised $4.6 million in its second round of venture capital debt and equity financing. The company provides small businesses with converged telecom services that can be accessed and routed via the Internet, all at a monthly subscription price.

Wireless

22 Wireless technology startups raised $121 million during the quarter, a decrease of 32% in dollar volume and an increase of 22% in the number of companies receiving funding versus the previous quarter. This continues a recent trend of funding amount decline.

The largest financing during the quarter was Paratek Microwave, which received $20 million. The company provides electronically tunable filters and other supplies as well as electronically steered antennas. This funding was the company's fifth round and included a number of venture capital firms.

Rave Wireless also raised a late stage round of financing, receiving $7 million in its series D venture equity funding round. Rave sells mass notification software for enterprises and large organizations to notify their constituencies in the event of an emergency or other event.

Adura Technologies secured $5 million during the quarter in its first round of institutional venture capital financing. The company offers a building facility energy cost reduction solution via its wireless technology and integrated software energy management and reduction system.

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