June 30, 2008

Agito Networks Raises $13M

Agito Networks announced that it has closed its Series B round of financing, raising approximately $13 million. Castile Ventures led the investment round, with ITX International Holdings Inc. also participating, and original investor Battery Ventures increasing its investment as well. The Series B round will help fund Agito Networks’ enterprise fixed mobile convergence (eFMC) market expansion and product development.

The company also announced today that it has named David Leonard, former vice president and general manager of the Cisco Wireless Networking Business Unit and Desktop Switching Business Unit as the Executive Chairman of Agito’s Board of Directors. While at Cisco, Mr. Leonard helped grow its wireless and Ethernet product lines to the number one industry ranking in their respective markets.

Agito Networks’ award-winning RoamAnywhere™ Mobility Router is the industry’s first and only business mobile convergence platform that uses RF-based, location-aware technologies to reliably mobilize voice over 802.11 wireless LANs (VoWLAN) and data applications, while remaining agnostic to enterprise customers’ choices of mobile carriers. It supports all leading IP-PBX and WLAN equipment vendors to uniquely fuse 802.11 wireless LANs, enterprise IP telephony, and the carrier cellular network, improving mobile worker accessibility and responsiveness to increase mobile worker productivity. Agito’s innovative, patent-pending location-aware technology allows enterprises to mobilize voice by taking full advantage of their 802.11 WLAN deployments as a low-cost alternative to cellular networks for in-building enterprise mobility. Its patent-pending technology ensures that in-building calls stay on the enterprise WLAN (using VoWLAN), to reduce cellular expenses and eliminate dropped or poor quality calls.

Agito Networks also announced that Carl Stjernfeldt, general partner at Castile Ventures, has been named to its Board of Directors. Along with Mr. Leonard, Mr. Stjernfeldt joins existing board members Ken Lawler, general partner at Battery Ventures; Jason Matlof, partner at Battery Ventures; Timothy Olson, Agito Networks CTO and co-founder; and Pejman Roshan, VP of Marketing and co-founder.

“Agito’s inventive platform creates clear value for enterprises by keeping mobile users connected and productive wherever they are,” said Mr. Stjernfeldt. “Due to its market-transforming algorithms, Agito’s solution is carrier-agnostic and delivers seamless, automatic handoff between WiFi and cellular networks, which previously had been a hurdle to broad market adoption of FMC products. In addition, the Agito solution integrates well with the existing enterprise infrastructure. Having invested in the communications sector for a decade, Castile recognizes the innovativeness of this disruptive solution and the visionary leadership of the founders. I am excited to join the board and to work with the team to reach the next level of success.”

“I have been watching Agito since its start and through its climb into the leadership position in the enterprise FMC space, and am pleased to join with its executive team to help the company continue to grow,” said Mr. Leonard. “This Series B investment is important for Agito as it looks to continue to expand and penetrate key markets. The valuable perspective and experience that Carl brings to the board will serve us well. In addition, having ITX International on board opens up a wealth of channels in overseas markets, which we intend to fully leverage.”

“Today’s investment climate requires a determined focus on real customer value and a clear differentiation, and Agito Networks has both of these attributes,” said Naoki Yamamoto of ITX International. “We invested in Agito because we see Agito’s solutions enabling enterprises to realize the full potential of unified communications/fixed mobile convergence, while leveraging their existing resources. We have already seen some strong interest from our contacts overseas, and are looking forward to helping Agito with its international expansion.”


back