Indoor wireless network solutions developer MobileAccess Inc. has raised $4.5 million in its sixth financing round from current investors Pitango Venture Capital, Poalim Ventures Ltd., Eurofund, DEA Capital SpA, HarbourVest Partners LLC, Ziegler Meditech Equity Partners (ZMEP) LP, and private investors, according to IVC Online. The company has raised $62 million to date, including the present round.
Founded in 1998, MobileAccess is a classic start-up in the growth stage. The company's technology transmits radio frequency signals over optical fibers within buildings.
MobileAccess turned to profit in 2005, and had $70 million in sales in 2008. In early 2008, it planned to hold an IPO on Nasdaq, and met with investment banks for that purpose, but dropped the plan, apparently due to the market climate. The company is run by CEO Ron Kaiser, and has 150 employees.
Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2010
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