Mimosa Secures $20 Million in New Funding Led by NEA
Substantial investment round to expand innovative product suite, accelerate global sales
CAMPBELL, Calif., May 21, 2014 (BUSINESS WIRE) — Mimosa Networks, Inc., a pioneer in last mile gigabit wireless technology, announced today a $20 million investment in Series C funding led by returning investor New Enterprise Associates (NEA). Oak Investment Partners also returned for its third round of investment in Mimosa, bringing the company’s total financing to $38 million. Mimosa will use the additional capital to expand its cutting-edge wireless product line, and significantly ramp global sales growth.
“The wireless industry is set to explode in the coming years, and Mimosa’s technology is unique in its ability to help networks scale to meet the needs of the global communications market,” said Greg Papadopoulos, venture partner, NEA. “We are excited to have the chance to ‘double down’ on a company so clearly poised to transform and revolutionize the wireless space.”
Mimosa employs the most advanced Wi-Fi technology to design and manufacture gigabit wireless platforms for Internet Service Providers (ISPs). Mimosa’s product offering, which will be launched later this year, is positioned to innovate in the outdoor wireless space and disrupt the industry through unprecedented leaps in capacity, speed and reliability for networks.