Tower Cloud rakes in $49M in funding, expands Atlanta backhaul network

Orlando, Fla.--Tower Cloud, one of the emerging wireless backhaul specialist providers, will now be able flex its reach further with another $49 million of funding in its pocket.

Led by two of its existing investors--The Burton Partnership and Knology, Inc.--the wholesale provider will use the latest funding round to expand into new markets throughout Florida, Georgia, South Carolina, and Alabama.

Other existing investors in the young company include: Sutter Hill Ventures, El Dorado Ventures, Ballast Point Ventures, Kinetic Ventures, ITC Partners Fund and Noro-Moseley Partners. Joining the group were The Florida Growth Fund and CLR Investors.

Conducted in two phases with a $13 million secured in January followed by $36 million in July, this latest funding found follows a $20 million round the same investor group initially made in the company in October 2009.

With the wireless backhaul becoming saturated with a number of new players offering similar Ethernet-based solutions, Tower Cloud appears to be proving itself with wireless operators.

On the heels of the funding announcement, Tower Cloud said it completed its wireless backhaul network build to serve three major wireless operators in Atlanta. Although it could not provide the names of these operators, the deployments illustrate the idea that wireless operators are willing to take a chance on alternative backhaul suppliers that are willing to step up with solutions that fit their particular needs.      

For more:
- see the funding release

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Ron Mudry, President and CEO, Tower Cloud