Expeto Raises $12M For Private 5G
December 26, 2022
secured a $12M Series B funding round. The news follows global deployments in
support of mission critical use cases where Expeto’s cloud-based NeXtworking
platform solves mobile complexity for enterprises by making any kind of mobile
connectivity (CBRS, MNO-provided LTE, 5G, etc.) a seamless part of a privately
managed network. The round was led by Sorenson Capital and included existing
investors Evok Innovations, Lavrock Ventures and Mistral Venture Partners.
Additional new investors included 5G Open Innovation Lab and Samsung Next.
Expeto has raised over $20M total financing to date and will use funds from the
Series B to accelerate innovation and expand go-to-market programs.
Cellular in all flavors has the potential to power robust private wireless
network use cases across industries. But end-to-end solutions targeting the
enterprise tend to be limited by factors like connectivity type (e.g., CBRS-only),
a certain wireless spectrum or a particular geographic area. IT teams that
maintain these networks typically have to manage them separately from primary
networks, relying on MNO support portals to request manual QoS or security
changes and updates that can take weeks or longer to be addressed.
Expeto overcomes these market shortcomings by making it simple for enterprises
to seamlessly extend private networks via any type of cellular connectivity with
single-SIM mobility between public and private instances of the network. Rather
than struggle to manage this mobile connectivity with legacy telco tools that
require LTE/5G user expertise, enterprises get an IT-centric portal
purpose-built for enterprise agility and speed.
“Expeto hides the complexity of mobile network management behind an easy
interface and powerful routing platform that has been proven to help achieve
ambitious mobile connectivity management goals in large-scale commercial
deployments,” said Expeto CEO Michael Anderson. “Our work with enterprises and
MNOs is rooted in solving the challenges enterprises face expanding private
networks with cellular connectivity and the role we can play in helping
transform industries based on compelling new use cases.”
Mobile network operators work with Expeto to simplify delivery of public and
private cellular networks. As an example, in its work with Rogers for Business
in Canada, Expeto’s platform is an integral component of the company’s business
class private network connectivity service. Expeto supports routing of
connectivity into the enterprise and the Expeto management interface is provided
by the operator to customers for real-time self-management. This solution is
live, powering mission critical enterprise private wireless networks, including
for Agnico Eagle, which operates Canada’s second-largest gold producing mine.
Expeto improves the private wireless network experience with key features
One network to manage. IT teams manage mobile network connectivity as if it
were part of their own networks.
Real-time device and network management. Sub-networks with different privileges
or configurations can be created instantaneously and devices can be assigned to
these networks with just a few clicks.
Public and private network mobility on a single SIM. Devices can move across
network sites, even if supported by different types of connectivity (e.g., CBRS,
5G, Wi-Fi), while maintaining network privileges.
“Expeto was first to market with public and private networking on a single SIM
and we see them with a considerable lead in this market,” said Burke Davis,
Partner at Sorenson Capital. “Further, the company is helping to put more
control and choice in the hands of the enterprise which is a good thing for MNOs
eager to advance and simplify how the mobile connectivity they offer can be
integrated into private wireless networks. We look forward to working with
Expeto as it pursues transformative outcomes for a range of large, complex
industry use cases.”
“As an early investor in Expeto, we recognized its ability to elegantly address
telco and enterprise requirements in one solution that could help telecom move
beyond one-off deployments to drive real growth and revenue generation,” said
Code Cubitt, managing director at Mistral Venture Partners. “We are doubling
down on our initial investment following the company’s continued traction and
momentum in this burgeoning market and are proud to be working with the Expeto
team and play a role in its ongoing success.”
open and extensible NeXtworking Platform can be deployed for secure and scalable
connectivity behind a corporate firewall, in a private or public cloud, at the
edge or geographically remote sites depending on use case requirements. It
supports creation of secure network segments, management of subscribers and
network policies, and monitoring of network usage and performance. It enables
Increase IT productivity with a single control plane to manage all networks
on the platform.
Use public mobile networks where possible to increase agility and reduce capital
expenditures while ensuring secure routing, global data control and dynamic
Deploy quickly with a standards-compliant mobile network corethat supports 3G,
4G and 5G standards in a fully containerized package.