Cradlepoint, a Boise, Idaho-based provider of 4G LTE networking solutions for distributed enterprises, closed a Series B round of $48m growth equity funding.
The round was led by Sorenson Capital, with participation from Delta-v Capital and The CAPROCK Group. In conjunction with the funding, Sorenson Capital Managing Director LeGrand Lewis and Co-Founder and Managing Director Ron Mika will join Cradlepoint's Board of Directors.
The proceeds will be used to accelerate its international expansion and development of cloud-managed Wireless Wide Area Networks (WWAN) and security solutions.
Led by George Mulhern, chairman and CEO, Cradlepoint provides cloud-managed 4G LTE networking solutions, including WWAN and Security solutions, to distributed enterprises. The company specializes in Business Continuity, M2M/IoT applications, Application Specific or Parallel Networking and Transportation networking.