SANTA CLARA, Calif., April 21, 2009 - Mobile broadband gateway provider Stoke, Inc today announced it has received $15 million in fully subscribed Series D funding, bringing the company's total funding to date to more than $65 million. The latest investment will be used to support the rapidly increasing installed base and commercial carrier trials with top tier carriers. Stoke has been shipping its Stoke Session Exchange 3000 for commercial deployments since January, 2008.
The financing for the first time includes investment by Net One Systems Co. Ltd, Japan's leading networking and systems integration provider. Also included in this round are existing investors Reliance Technology Ventures Limited (RTVL), the corporate venture capital arm of the Reliance ADA Group, DAG Ventures, Integral Capital Partners, Pilot House Ventures, Sequoia Capital, and Kleiner Perkins Caufield & Byers.
Net One System's reputation for continually integrating the most advanced technologies into their overall solution portfolio has made them a leading systems integrator and supplier to the Japanese service provider market.
"We believe Stoke will play an increasingly important role in Mobile Broadband Gateway market as Carriers transition to an all IP infrastructure like LTE and femtocells for enhanced coverage," said Mr. Tomohiro Iwamoto, Executive General Manager, Product Development Operations, Net One Systems. "Stoke’s technology addresses some of the most critical contemporary requirements of our mobile data service provider customers, namely the need to provide common IP session management over a range of network access technologies. With Stoke, we can offer clients a breadth of converged session management capabilities in a single system. The platform is extremely well suited to address the changing dynamics of carrier networks in Japan."
Matt Murphy of Kleiner Perkins added, “We are very pleased with the market success Stoke is achieving. Despite difficult economic conditions, high-speed wireless data is experiencing tremendous growth and has become essential to consumers across the globe. This growth challenges scale, flexibility, and cost containment in carrier networks. Stoke is well positioned with its breakthrough mobile broadband gateway solutions, enabling network operators to reduce cost, adapt to high traffic growth, support new applications, and address quickly changing usage patterns across 3 and 4G networks."
About Stoke, Inc.
Stoke develops carrier-class mobile broadband gateways specifically engineered to enable mobile and converged network operators to maximize the economic returns of their 3G mobile networks. For more information, visit www.stoke.com [1].
Links:
[1] http://www.stoke.com/