Arlington’s Federated Wireless Inc. has raised an additional $14 million in a second closing of its latest round of funding — bringing the raise’s total to $72 million — as it looks to augment the private wireless market.
The software-as-a-service firm provides private wireless services to the commercial market using technology called shared spectrum, which promises greater efficiency, scale and quality over traditional wireless and Wi-Fi networks. Its clients are in industries such as defense, government, manufacturing, telecommunications, utilities, real estate and education, the company said in a press release.
Over its 10 years of existence, Federated Wireless said it has raised a total of $213 million. That includes this latest funding round, where in February, Federated Wireless disclosed a $58 million initial close of a Series D round of funding led by an affiliate of Cerberus Capital Management LP. Existing investors Allied Minds (LSE: ALM) and GIC, Singapore’s sovereign…Read the full story from the Washington Business Journal.