Movik Networks Secures $25 Million Funding

03/31/11
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Developer of wireless networking products to accelerate development of the company’s unique, RAN aware mobile content delivery technology.

 

Littleton, MA, USA – March 31, 2011 – Movik Networks, a company focused on developing wireless networking products aimed at enabling an Intelligent Radio Access Network (RAN) for high value content delivery, today announces it has received $25 million in funding. Oak Investment Partners led the round while previous investors Highland Capital Partners and Northbridge Venture Partners continued to participate in company financings.

Movik’s products enable wireless operators to more efficiently deliver the ever increasing volume of data resulting from subscriber demands for content on mobile devices. In deployments and field trials, Movik’s market leading technology dramatically improves the mobile broadband experience for subscribers by intelligently delivering content over the RAN. Operators have experienced substantial reductions in the time it takes for subscribers to open web sites and videos while materially reducing the amount of traffic sent over the RAN.

Movik intends to use the financing to scale field operations to support the company’s growing deployments and trials worldwide, and to accelerate development of the company’s unique, RAN aware mobile content delivery technology. Last quarter, the company announced an expanded presence in Europe and the Middle East and the appointment of veteran telecommunications executive, John St. Amand, as Chief Executive Officer of the company.

“We have been impressed by extraordinary growth of mobile broadband traffic and concerned about how well Radio Access Networks (RAN) will scale to handle the amount of web traffic requested by smart phones,” says Ed Glassmeyer, Managing Partner of Oak Investment Partners. “Movik addresses the issue with a solution that understands where traffic originates and what device type is requesting it. Movik schedules, paces, and off-loads traffic, providing better RAN utilization and throughput, while improving the user experience.”

“Movik is transforming the way mobile networks deliver content to mobile subscribers. Our innovative technology has attracted top operators who have been seeking solutions for the challenges presented by the enormous growth in mobile broadband,” states John St. Amand, Chief Executive Officer of Movik Networks. “I’m especially pleased to receive support from our preeminent investor, Oak Investment Partners, as well as the continued support from our industry leading existing investors, North Bridge Venture Partners, and Highland Capital Partners.”

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