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PacketHop Secures $10 Million in Series B Financing; ComVentures Leads Investment Round As PacketHop Prepares for Aggressive Launch of Secure Mobile Mesh Networking Products

Posted on: Tuesday, 10 August 2004, 06:00 CDT

PacketHop, Inc., a leader in secure mobile mesh broadband communications, today announced it has secured $10 million in a Series B round of financing, led by ComVentures, a preeminent venture capital firm specializing in next-generation communication technology investments. The round also includes the participation of existing investors U.S. Venture Partners and Mayfield. PacketHop will leverage the capital infusion to fuel company growth and prepare for the commercial launch of its secure mobile mesh networking products, initially targeting the $11 billion homeland security market.

The complete PacketHop software solution is easily and quickly loaded onto virtually any standard IP radio-equipped device such as commercial off-the-shelf laptops, tablets and PDAs. Devices enabled with PacketHop software can work together seamlessly and instantly to form a secure, scaleable and robust mobile broadband network. PacketHop's mobile mesh network does not require fixed network infrastructure such as base stations or access points to provide communications between devices. When fixed infrastructure is available, it is an additional resource utilized by the mobile mesh network to connect to a network backbone when necessary.

"PacketHop has established itself as a frontrunner in the mobile mesh networking market, having successfully addressed the most difficult technical challenges required to deliver instant, mobile broadband communications," stated Michael Howse, president and CEO of PacketHop. "With the closing of our Series B funding, and the completion of a highly successful trial deployment with the Golden Gate Safety Network, PacketHop is in an ideal position to widely deploy its technology and scale the company to satisfy the growing demand for its products in public safety, enterprise and consumer markets."

Roland Van der Meer, ComVentures partner, who today joins PacketHop's board of directors, added, "PacketHop is taking advantage of several significant developments in mobile communications. The company is leveraging the proliferation and tremendous innovation that is occurring in 802.11, as well as meeting all of the criteria for mission-critical communications as outlined by the Department of Homeland Security. We believe PacketHop's timing, accomplished management team, market strategy and technology are right on target for immediate and long term success."

"PacketHop technology offers tangible benefits to its initial target market of public safety agencies, first responders and homeland security personnel," noted Philip Marshall, research director of Wireless/Mobile Technology at the Yankee Group. "PacketHop's mobile mesh system offers a viable alternative to the expensive and proprietary legacy systems currently in place."

About ComVentures

ComVentures, a venture capital firm with more than $1.5 billion under management, specializes in early-stage investments in the communications market. The firm focuses its investment expertise on pioneering companies that capitalize on the constant drive to build next-generation components, systems, software and services. ComVentures consistently uncovers groundbreaking communications technologies, helps lead and grow its portfolio companies, and assists these companies in deploying new technologies in an ever-changing marketplace. For more information, visit http://www.comventures.com.

About PacketHop

PacketHop develops mobile broadband networking products that deliver high network availability, enhanced coverage, security, quality of service, efficient cost performance, and real-time peer-to-peer communications to serve a wide range of markets. PacketHop's secure mobile mesh networking software loads easily onto virtually all standard IP radio equipped devices like laptops, PDAs and tablets enabling a mobile broadband network to be created instantly. Founded in January 2003 and based in the Silicon Valley, PacketHop is funded by premier venture firms U.S. Venture Partners, Mayfield and ComVentures, as well as SRI International. More information on PacketHop can be found at www.packethop.com.

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