WASHINGTON, Jan. 26, 2021 /PRNewswire-PRWeb/ -- Airtower Networks, "One of The Fastest Growing Companies in America" (Inc. 500) and a leading wireless infrastructure provider, announced today that it has successfully closed on a round of new funding.
The investment was made by Lumerity Capital, a private equity firm focused on investments in cloud and data infrastructure. With extensive experience within the data infrastructure ecosystem, Lumerity is well positioned to assist portfolio companies with the execution of multi-pronged growth strategies. The investment will enable Airtower Networks to further capitalize on its position as a leader in the wireless infrastructure industry.
Airtower Networks delivers a full suite of network solutions and managed services that enable wireless connectivity. The timing of this investment coincides with the increasing market demand for high-quality wireless connectivity within the vast number of buildings that require improved coverage and capacity. Airtower's vision is to become the largest nationwide 5G provider and neutral-host operator of indoor wireless networks by delivering cutting-edge network solutions that help building owners, property developers, enterprises, and mobile network operators manage their wireless infrastructure investments while also producing an attractive ROI. With clients ranging from the largest commercial real estate developers to the most technologically advanced government organizations, Airtower consistently provides cutting-edge solutions to meet each customer's wireless needs.
"Airtower Networks experienced a record breaking year in terms of revenue, new bookings, networks deployed, and profitability. We have enjoyed getting to know Matt Kim, David Claroni, and the Lumerity team. This incremental funding will allow us to continue to scale the business," said Oliver Valente, Airtower's Chief Executive Officer.
"We're excited about the injection of investment capital and sector expertise provided by Lumerity. The additional resources will give us the capability to rapidly scale the success we've had providing cutting-edge wireless and smart building solutions for commercial real estate and cellular carriers," said Manny Dureja, Founder and President, Airtower Networks.
Matt Kim of Lumerity Capital added, "The indoor wireless sector provides tremendous growth opportunities and we are excited to partner with a proven management team that is executing successfully with a highly effective approach to the market. We look forward to working with Oliver and Manny and to supporting Airtower as it accelerates growth of its core business and evaluates emerging opportunities, including edge computing."
About Airtower Networks
Airtower Networks has become the trusted partner for building owners, property managers, enterprises, and mobile network operators in need of future-proof cost effective network solutions and managed wireless services that help enhance communication and improve their bottom lines. Airtower Networks' total managed services for smart buildings and mobile connectivity maximize building owners' investment by providing communications infrastructure and 5G-ready networks.
Airtower Networks designs, builds, owns, and operates next-generation cellular, private LTE, Wi-Fi, and public safety networks. Clients include owners/operators of data centers, industrial, residential, healthcare, education, office, hospitality, retail, stadiums and public venues that range in size from small to Fortune 50 enterprises including the largest commercial real estate developers in the nation and the most technologically advanced government organizations. Airtower Networks consistently provides cutting-edge solutions to meet each customer's wireless needs. For additional information, please visit http://www.airtower.com, [email protected] or call 1-877-327-1785.
About Lumerity Capital
Lumerity Capital is a private equity firm founded in 2014 focused on investments in cloud and data infrastructure. With extensive experience and deep relationships within the data infrastructure ecosystem, Lumerity works actively with its portfolio companies on the execution of their growth strategies. Lumerity's portfolio companies include Datavail Corporation, a leading managed services provider focused on database administration and enterprise applications, Effectual Inc., a next generation public cloud managed services provider, 365 Data Centers, a provider of hybrid Infrastructure-as-a-service with network-dense data centers located in the Eastern U.S., and 59Realty, a data center real estate platform. Lumerity's past investments include TriCore Solutions, a leading ERP managed services provider that was acquired by Rackspace. Learn more at http://www.lumerity.com.
Dennissa Salazar, Airtower Networks, +1 877-327-1785 Ext: 1240, [email protected]
SOURCE Airtower Networks