Venture Capital News: Quantenna Communications Closes $22M New Investment Round
FREMONT, CA, Leader in ultra-high performance Wi-Fi solutions, announced today that it has closed a new investment round of $22 million.
Quantenna Communications, Inc., a leader in ultra-high performance Wi-Fi solutions, announced today that it has closed a new investment round of $22 million to continue to fuel its rapid growth. Leading new investors in this round were Centerview Capital Technology, Vivint and NTT Group. All major existing investors including Sequoia Capital, DAG Ventures, Rusnano, Sigma Partners and Venrock also participated. In conjunction with the financing, Quantenna announced that Ned Hooper and Harold Hughes have joined its Board of Directors. Mr. Hooper is a Founding Partner of Centerview Capital Technology. Prior to Centerview Capital, Mr. Hooper was the Senior Vice President and Chief Strategy Officer of Cisco Systems. Mr. Hughes is a seasoned executive who has held many prominent leadership positions including CEO of Rambus, CFO of Intel, and directorship at several technology companies.
Quantenna will use the funds to expand its investment in technology and customer success as the fasted growing wireless silicon company in the world. Quantenna has shipped tens of millions of its Wi-Fi chipsets that are being deployed by tier one telecom, cable and satellite service providers worldwide including AT&T, DirecTV, Orange and Telefonica. It has also been selected by numerous retail OEM's for their highest performing products.
Earlier this year, Quantenna unveiled the world's first 10G Wi-Fi technology for a new generation of access points in the home, the enterprise and public spaces. With an innovative architecture enabling up to an unprecedented 8x8 MIMO configuration, throughput and capacity up to 10Gbps and universal support for MU-MIMO clients, Quantenna's 10G Wi-Fi will deliver extraordinary Wi-Fi capacity and performance while utilizing the minimum spectrum required and therefore creating the world's maximum geo-capacity Wi-Fi.
'Customers continue to demand higher quality, more reliable wireless networks in the home, enterprise and outdoors. Quantenna develops market leading Wi-Fi solutions that enable better coverage, throughput, and video quality of service to deliver the highest performance most reliable Wi-Fi experience,' said Ned Hooper, Founding Partner of Centerview Capital Technology. 'We are thrilled to be investors and active board members to continue the growth and expansion of the business.'
'Consumer's dependence on Wi-Fi in their everyday lives continues to increase, creating expectations for higher performing Wi-Fi. Quantenna has continued to innovate to meet and exceed these expectations,' said Harold Hughes, former CEO of Rambus and CFO of Intel. 'I am excited to join the Quantenna board of directors to share my experience with the executive team.'
'The Quantenna team is honored to have both Ned and Harold join our Board and we look forward to working closely with them as we enter the next phase of our growth,' said Dr. Sam Heidari, CEO of Quantenna Communications. 'Ned and Centerview Capital Technology will bring a wealth of strategic and operational experience in our core and adjacent markets,' Heidari continued, 'and Harold's extensive financial and operational insights will be instrumental as we scale through our accelerating growth.'
About Quantenna Communications, Inc.
Quantenna is the global leader and innovator of ultra-high performance Wi-Fi semiconductor and system software solutions that establish benchmarks for speed, range, efficiency and reliability. Quantenna pioneered the delivery of seamless multimedia video and data anywhere indoors and outdoors and was the first to deliver 4x4 chipsets that apply and expand 802.11n and 802.11ac Wi-Fi standards. It was also the first to implement MU-MIMO technology for transmitting data to multiple devices at once, dramatically increasing Wi-Fi network capacity while using the same amount of limited spectrum. With the industry's highest performing Wi-Fi solutions, Quantenna is Wi-Fi Perfected.
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