Cradlepoint raises $89 million to address new cellular technology

The Boise-based company recently raised $89 million.

BOISE - The Boise cloud-based network solution provider Cradlepoint closed its latest funding round after receiving about $90 million.

Cradlepoint, founded in 2006, recently raised $89 million through investors such as the tech investment group TCV.

The next cellular network generation, 5G, is expected to come online soon with faster speeds for businesses. Cradlepoint has built expertise in 4G LTE services since its founding, and it will use the latest investment and its experience with cellular networks to build equipment for the 5G network, said George Mulhern, CEO of Cradlepoint.

“We’ve been growing about 40 percent each of the last five years, but the whole network landscape is going to change over the next three years,” Mulhern said. “It is going to become more software-defined, more wireless and more and more business will have to learn how to plug their internet of things devices into their network.

Read more of this story at the Idaho Business Review.

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