CALIFORNIA, USA & DUBLIN, IRELAND: As demand for mobile data continues to accelerate worldwide, the telecom industry is increasingly trying to meet the challenge of connecting disparate networks.
At the center of this movement, Accuris Networks, a global leader in cellular and Wi-Fi connectivity, announced today that it has completed a $15 million equity funding round. Key new investors in this privately held company are the Ulster Bank Diageo Venture Fund and the China Ireland Growth Technology Fund.
In addition, Accuris Networks announced the appointment of seasoned US-based wireless executive Jeff Brown as CEO.
Larry Quinn, Accuris' chairman, said: "Our established industry customer base, our significant pipeline and our industry-leading technology were all factors that attracted this investment. We intend to use this funding to invest in future product development in our AccuROAM platform, to maintain our lead in connecting networks and build more solutions such as carrier-grade Wi-Fi offload and roaming as we scale our business globally.
"While we already have customers worldwide and support from existing investors such as Atlantic Bridge Capital, we particularly want to expand in China, Japan and other Asian markets. We also intend to consolidate and amplify our successes in EMEA, particularly in the Middle East and Western Europe."
Under the leadership of its new U.S.-based CEO, Accuris Networks will also broaden its presence in the North American market with the establishment of a new Silicon Valley office. "With marquee customers and partners such as AT&T, Bell Mobility, Telus, GoGo, Cisco, HP and Alcatel-Lucent, Accuris Networks has already established an enviable track record in this market," said Jeff Brown. "But, we've barely scratched the surface of the opportunities here so far."