SOURCE: BLiNQ Networks, Inc.

BLiNQ Networks, Inc.

September 08, 2014 09:26 ET

BLiNQ Networks Secures US$15.1 Million Series B to Accelerate Global Sales for Adaptive Mobile Backhaul

Breakthrough Small Cell Transport Solution Solves Mobile Operator Capacity Challenges

PLANO, TX and OTTAWA, ONTARIO--(Marketwired - Sep 8, 2014) -  BLiNQ Networks Inc., the pioneer in small cell backhaul innovation, today announced that it has raised US$15.1 million Series B funding bringing the company's total financing to US$32.5M. BLiNQ will use the new funds to continue product innovation, scale operations and accelerate global sales growth. The round was led by WIN Fund LP and included Kensington Global Private Equity Fund as a new investor. Existing investors BDC Capital, New Venture Partners and Summerhill Venture Partners also participated in the round.

"As mobile data continues to grow, Carrier networks are challenged to meet the demand and improve the user Quality of Experience," said Rick Nathan, Kensington Managing Director, "BLiNQ's technology is a key enabler for operators to deliver a better mobile experience."

With BLiNQ's solution, operators are now able to cost-effectively add more mobile capacity allowing subscribers to use the Internet, stream video and engage social networks on mobile devices. This results in an improved Quality of Experience, increased usage and reduced subscriber churn.

"We have partnered with several large operators at various stages of qualification trials and the feedback has been very positive on the automated adaptive capability and performance of BLiNQ's solution as well as the low total cost of ownership," said Mickey Miller, Co-founder and CEO at BLiNQ Networks. "This funding will help continue to support these efforts and enable us to scale our sales and support efforts worldwide."

BLiNQ Networks will be showcasing theX-1200 Adaptive Mobile Backhaul solution in Booth #2963 at Super Mobility Week CTIA 2014, September 9-11, at the Sands Expo and Convention Center in Las Vegas, Nevada.

About X-1200 Adaptive NLOS Mobile Backhaul System
The funding comes on the heels of the successful launch last February of the X-1200 Adaptive NLOS Wireless Backhaul System for small cells. The X-1200 allows mobile operators to rapidly and cost-effectively deploy small cell networks, delivering both coverage and capacity where they are most needed. This is the first backhaul solution able to automatically adapt to changes in the network.

About WIN Fund LP
The WIN Fund LP, founded in 2014, invests in select growth rounds in mobility, digital media and Internet.

About Kensington
Kensington, founded in 1996, is a leading Canadian investor in alternative investments. Kensington is best known for its private equity and venture capital investment programs, having committed over $600 million since 2002, and is also an active investor in infrastructure assets and hedge funds. Institutional investors such as pension funds and professional asset managers, as well as high net-worth individuals and retail investors, hold Kensington funds. For more information on Kensington, please visit www.kcpl.ca.

About BLiNQ Networks
BLiNQ Networks was founded in June 2010 after the acquisition of intellectual property and wireless assets from Nortel Networks. BLiNQ is a pioneer of wireless backhaul solutions that fundamentally changes the way mobile operators deliver mobile broadband services in high density areas. BLiNQ uses cost-effective sub-6 GHz TDD spectrum and unique and patent-pending Managed Adaptive Resource Allocation (MARA) technology to provide network-level intelligence, self-organizing network capabilities, and eliminates interference challenges to maximize spectral efficiency. BLiNQ is headquartered in Plano, TX with research and development facilities in Ottawa, Canada. For more information, www.blinqnetworks.com.

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