Company Closes Series B Round Led By Bessemer Venture Partners With Participation From Other Existing Investors, Including New Venture Partners
SANTA CLARA, Calif., March 19, 2013 /PRNewswire/ — Vasona Networks, Inc.®, a provider of platforms for mobile network capacity and resource management, today announces total funds raised of $22 million, including a recent $12 million Series B round. The venture capital financing was led by Bessemer Venture Partners, with participation by New Venture Partners and a strategic investor, all of them participants in the company's Series A round.
The newest financing follows Vasona Networks' success bringing to market its pioneering SmartAIR1000™ edge application controller, which is in deployments by mobile network operators around the world. The company will use the proceeds to accelerate its growth and expand field operations, while continuing investment in its research and development activities.
"During the last few years, Vasona Networks has rapidly defined, developed and validated its platform, establishing a new category of solution for pressing mobile operator needs," says Bob Goodman, a partner at Bessemer Venture Partners and member of Vasona Networks' board of directors. "This new financing positions the company to fulfill and build on the strong demand it's experiencing."
Founded in 2010, Vasona Networks recognized that bringing together certain mobile, media and IP networking technologies could address the deluge of growing application usage that mobile operators face today. Vasona Networks' resulting flagship SmartAIR1000 edge application controller works with mobile traffic across all applications, at granularity of every cell in a network. It assesses and acts on congestion based on exactly where it is occurring and what is causing it. Bandwidth is allocated to each application in real time for the best overall subscriber experiences. This solution empowers mobile operators to more effectively use resources as they face expensive and complex upgrades to add network capacity.
"Vasona Networks is succeeding across our operations including multidisciplinary engineering, launching the first edge application controller, deployments with top global operators, and substantial support from our venture investors," said Biren Sood, CEO, Vasona Networks. "Our funding validates Vasona Networks' leadership positioning, with participation including Bessemer Venture Partners, one of the most venerable venture capital firms, and New Venture Partners, a sophisticated investor in communications infrastructure markets."
For more information, visit www.vasonanetworks.com.
About Vasona Networks
Founded in 2010, Vasona Networks, Inc.® works with global mobile network operators to deliver better subscriber experiences. The company's pioneering edge application controller, the SmartAIR1000™, takes a holistic approach to addressing mobile network data traffic congestion that occurs in each cell, monitoring every application demanding bandwidth. With this visibility, Vasona Networks' RateControl™ technology allocates bandwidth by precise determination of user needs and experiences. The company has received investments from Bessemer Venture Partners and New Venture Partners. Vasona Networks is based in Santa Clara, California, with research and development offices in Tel Aviv, Israel. For more information, visit www.vasonanetworks.com.
About Bessemer Venture Partners
With $4.0 billion under management, Bessemer Venture Partners (BVP) is a global venture capital firm with offices in Silicon Valley, Cambridge, Mass., New York, Mumbai, Bangalore and Herzliya, Israel. BVP delivers a broad platform in venture capital spanning industries, geographies, and stages of company growth. From Staples to Skype, VeriSign to Yelp, LinkedIn to Pinterest, BVP has helped incubate and support companies that have anchored significant shifts in the economy. BVP also led the Series A financings of Broadsoft, Intucell and Flarion. More than 100 BVP-funded companies have gone public on exchanges in North America, Europe and Asia. See www.bvp.com or follow BVP on Twitter: @bessemervp
Media Contacts:
Brian Baumley
BLB Communications for Vasona Networks
609-759-0252
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Ashley Gagnier
Bessemer Venture Partners
914-833-5357
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