Amount fully funds business plan of technology leader in real-time performance management solutions for wireless networks
SAN DIEGO, CA (PRWeb) April 4, 2007 – Proximetry Inc., the technology leader in real-time performance management solutions for wireless networks, today announced that it has received $5 million from a venture financing round led by Munich Venture Partners and Rembrandt Venture Partners. Including additional investors Investec and Windward Ventures, the amount raised fully funds the company's business plan and will be used to expand development of the company's market leading wireless network management solution, AirSync, while fueling growth in marketing and sales activities.
"As many different types of wireless networks continue to grow and converge, we see an ever increasing need for a robust wireless performance management and provisioning solution," said Dr. Walter Grassl, managing partner of Munich Venture Partners. "The result is that going forward market demand in this area will be enormous, and Proximetry's breakthrough technology and its close cooperation with leading research organizations in Europe puts them in an excellent position to capitalize on this growth."
With a foundation originating from key technology and academic organizations, and field proven with several world class customers and partners, Proximetry's core technologies transform standards-based wireless networks into carrier-grade service platforms with essential performance, scalability, and reliability features.
"Proximetry provides an innovative approach to managing wireless networks with its cutting-edge wireless provisioning technology," said Douglas Schrier, general partner of Rembrandt Venture Partners. "Our focus is to invest in technology leaders in new, high-growth markets, and Proximetry with its AirSync solution represents exactly that towards the future of wireless networks and their ecosystems."
A single integrated platform incorporating end-to-end resource and service management functions, AirSync enables real-time provisioning and management of distributed, multi-protocol wireless networks. The result is that overloaded and complex wireless networks can be intelligently configured and manipulated to support the full range of business critical communications from telemetry to rich-media services such as VoIP and video.
"Proximetry is the first company to offer fully-integrated, real-time, carrier-class network management to wireless network operators regardless of technology or business focus," said Tracy Trent, chief executive officer of Proximetry. "Proximetry's solutions provide an easy ability to monitor, predict, control, and optimize all of an organization's wireless network resources, including automatically performing meaningful network detection, configuration, and resource allocation. We are excited to have secured partners that not only fuel the company's growth financially but also harness access to rich technology which will allow Proximetry to capitalize on this global market opportunity."
As part of the financing both Munich Venture Partners and Rembrandt Venture Partners will have representation on Proximetry's board of directors.
About AirTegrity Wireless
AirTegrity Wireless is a privately-held company specializing in the development of wireless communications solutions for global applications. The Company develops and manufactures a complete broadband wireless communications system that significantly reduces the cost of ownership and deployment for high-speed wireless networks regardless of physical location. AirTegrity products provide last mile, high-speed, secure voice/data/video delivery in a flexible hardware solution that can be used by virtually any Telco, service provider or enterprise network. Based in Stateline, Nevada, near Lake Tahoe, AirTegrity Wireless can be reached by calling 775-588-8800 or visiting www.airtegrity.com
About Munich Venture Partners
Munich Venture Partners was founded by senior managers in the software and semiconductor industry, and experienced venture capital professionals. As the prime partner of the Fraunhofer-Gesellschaft, one of the world's leading research organizations for applied research, Munich Venture Partners invests in selected high-tech start-ups in the information, communication and energy technology space. Investors into the Munich Venture Partners' fund include SAP, Swisscom, Sal. Oppenheim and the KfW Bankengruppe. Given these financial partnerships Munich Venture Partners is able to finance the growth of high-tech start-ups and support their value generation successfully. For more information about Munich Venture Partners, visit www.munichvp.com
About Rembrandt Venture Partners
Rembrandt was established as a formal venture fund in 2004 to provide private equity capital to early stage technology companies. The firm pursues investments in a variety of sectors including enterprise software and services, Internet infrastructure, communications, next generation wireless sectors and new media convergence companies. Rembrandt's General Partners are experienced and successful Silicon Valley investors and executives who capitalize on this opportunity. The General Partners have over 70 years of venture capital investment, operational, entrepreneurial and technical experience. Rembrandt's limited partners and advisors represent many leading west coast technology companies. Visit www.rembrandtvc.com
Proximetry provides wireless performance management solutions, for highly distributed, performance critical, multi-protocol wireless networks. Proximetry's software solution, AirSync Enterprise Wireless Manager (AirSync), enables network operators, public safety, energy and transportation organizations to provision and manage performance critical wireless networks. The AirSync platform is powered by patent-pending technology to ensure proper management of devices, users, and applications. AirSync allows dynamic control over wireless network traffic, including real-time bandwidth optimization for VoIP, video, and telemetry. Proximetry is a privately held company, headquartered in San Diego, California, with offices in Poland. For more information about Proximetry, visit www.proximetry.com