SEATTLE, WA, Leading provider of mobile bandwidth optimization and bandwidth management solutions, today announced that the company has completed a $13 million Series C round of financing.
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CENTRI Technology, a leading provider of mobile bandwidth optimization and bandwidth management solutions, today announced that the company has completed a $13 million Series C round of financing. CENTRI's latest round of funding includes investments from Angel Valkyrie, LLC and participation from existing investors.
The proceeds from the round will be used to further accelerate the expansion and deployment of CENTRI's BitSmartCX solution to global mobile network operators, as well as contribute to the growth of its product development, support and sales teams to address the increasing market demand for efficient mobile data optimization and bandwidth management solutions.
CENTRI's solutions are designed to help mobile network operators intelligently optimize and manage the flow of data across their networks in real-time - reducing the need to invest in additional network infrastructure while reducing backhaul, spectrum and transport costs. CENTRI's flagship product, BitSmartCX, uses patented optimization techniques that dynamically reduce the amount of data transmitted across the network via byte-level caching technology, between the device, the radio network backhaul, and the network core. This approach is a disruptive force that will help operators achieve significant savings in terms of reoccurring operating costs and capital investments - both today and in the future.
'Securing funding from new investors and continued investment from existing investors underscores the growing confidence in CENTRI and our solutions,' said Vaughan Emery, founder and CEO of CENTRI Technology. 'As mobile data usage continues to grow year over year, mobile network operators across the globe are challenged to keep pace with the growing demand for data services while remaining competitive in the marketplace. This need signals a significant market opportunity for CENTRI's solutions, particularly BitSmartCX, which is designed to help mobile operators efficiently manage network capacity while lowering their overall costs of services.'
Emery continued, 'Already we have had strong interest in BitSmartCX, with mobile network operators and telecom equipment manufacturers in Latin America currently trialing the solution. With this new capital, we will be able to accelerate our business development efforts in bringing BitSmartCX to even more operators worldwide.'
The award-winning BitSmartCX uses an optimization technology that provides encryption and acceleration all in a single pass. This approach can consistently reduce the traffic on operators' networks. BitSmartCX's optimization benefits are a perfect complement to help alleviate today's backhaul and transport dilemma. For example, with a Tier 1 mobile network operator consisting of a mix of 4G and 3G customers, BitSmartCX can save more than $800 million over five years in backhaul costs, according to an ROI Calculator that CENTRI jointly developed with Yankee Group. In addition, future benefits include the ability to enable more subscribers on a current network by optimizing the radio spectrum, and opening new revenue opportunities for operators given the savings enabled with BitSmartCX for current investments.
CENTRI's BitSmartCX solution can be deployed at the mobile network via three different ways: at network aggregation point, within the radio network base stations, or within the endpoint device such as a smartphone, mobile tablet, smart meter, point-of-sale kiosk, automobile, etc.
About CENTRI Technology
CENTRI is a leading provider of mobile bandwidth optimization and bandwidth management solutions that reduce network congestion and increase capacity across the network. With CENTRI's Connected Experience Platform (CXP), which includes BitSmartCX and SmartStreamCX, mobile network operators are able to intelligently optimize and manage the flow of data across their networks in real-time to reduce the need to invest in additional network infrastructure and reduce backhaul costs. To learn more, visit www.centritechnology.com