The round was led by Intel Capital and Morgan Creek Capital Management, with full participation from existing investors Core Capital Partners and Cipio Partners.
The need for cost effective, high capacity next generation backhaul systems is critical for carriers' as they continue momentum to deploy networks supporting high bandwidth services. By 2015, Infonetics Research expects that 70% of millimeter wave equipment will be deployed in backhaul networks as the demand for high capacity mobile backhaul solutions for metro areas with high cell density and small cells in particular (Microwave and millimeter wave equipment evolving to support next-gen RAN -- March, 2011).
"BridgeWave's wireless Ethernet technology will play an increasingly important role in providing mobile backhaul and Pico-cell solutions as carriers continue deploying 4G and LTE networks," said Bryan Wolf, managing director, Intel Capital. "We look forward to working closely with BridgeWave as they continue to develop innovative wireless solutions to address increasing mobile network strain."
"This investment will allow us to ramp up production of our carrier-grade wireless backhaul products as we go into 2012," said Amir Makleff, BridgeWave president and CEO. "As mobile operators and carriers continue to see a substantial increase in traffic due to data-hungry mobile devices, they will turn to systems like ours to meet their network needs."
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10.4 billion in over 1,212 companies in 51 countries. In that timeframe, 194 portfolio companies have gone public on various exchanges around the world and 289 were acquired or participated in a merger. In 2011, Intel Capital invested US$526 million in 158 investments with approximately 51 percent of funds invested outside the U.S. and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About Morgan Creek Capital Management
Morgan Creek Capital Management, LLC is a SEC-registered investment adviser providing investment management services to institutions and wealthy families. Morgan Creek Capital provides a customized investment solution to clients in need of a targeted investment program, as well as discretionary strategies to assist clients in building investment programs based on the University Endowment Model. Morgan Creek Capital provides Asset Allocation, Manager Selection, and Portfolio Construction. For more information on Morgan Creek Capital Management, visit www.morgancreekcap.com.
About BridgeWave Communications
BridgeWave Communications is the leading supplier of high-capacity 4G millimeter wave backhaul and gigabit wireless connectivity solutions. BridgeWave's carrier-grade, point-to-point wireless FlexPort® links provide a future-proof mobile backhaul solution for carriers and mobile operators looking to support 4G/LTE/WiMAX adoption. PicoHaul links provide the same carrier-grade high-capacity, small-cell backhaul for dense cell deployments. The company's 60 GHz and 80 GHz links offer up to ten times the bandwidth of comparably-priced lower-frequency license-free and licensed-band wireless links, while providing superior interference immunity and data security. Founded in 1999, BridgeWave is headquartered in Santa Clara, California. For more information, visit http://www.bridgewave.com.
Contact: Joe Schraml BridgeWave Communications (408) 567-6927 Email Contact