SOURCE: Opanga

Opanga

April 16, 2012 07:00 ET

Opanga Networks Announces New Financing

New Funding to Drive Aggressive Growth of Mobile Video Adoption on Smartphones and Tablets

SEATTLE, WA--(Marketwire - Apr 16, 2012) - Opanga Networks, a leading innovator of network optimization solutions that substantially improve mobile video and multimedia performance, announced the completion of a $6M financing providing the company with significant new working capital to fuel its growth. Opanga provides technology that enables mobile network operators to massively increase network utilization and improve capital efficiency -- helping resolve the capacity crunch, which is arguably the most significant issue the industry has faced.

"Opanga's NetRover technology has demonstrated in networks globally its ability to vastly improve overall network throughput allowing operators to attack their markets with video and aggressively pursue highly scalable and sustainable mobile video based services," said Dave Gibbons Opanga's CEO. "Most video technology innovation today is focused on defensive strategies towards mobile video like compression and sacrificing playback quality inside consumers' monthly data caps -- our solution is a game changer providing flawless HD mobile video playback, places no burden on the mobile networks and can therefore be unlimited to consumers."

Opanga's funding was led by Pacific Wireless Ventures LLC, a private equity group based in Seattle, alongside several private and highly regarded investors and local veterans of wireless in the Pacific Northwest. "We are thrilled to have such an experienced group of new investors helping Opanga and we are looking forward to having Pacific Wireless as a member of our Board," said Gibbons. "Our investors have all demonstrated the ability to innovate new products and build highly valuable businesses in their own right and they will bring Opanga a wealth of experience, guidance and knowledge as we develop and build the company."

About Opanga Networks
Opanga Networks is a leading innovator of network optimization solutions that substantially improves mobile video performance and powers mobile operators to lead their markets with video based services. Opanga's NetRover™ solutions are based on its patented adaptive bandwidth management technologies that enable a flawless HD playback experience without causing the network congestion or degradation typical of other video applications. NetRover enables network operators to leverage existing network assets and create highly efficient and scalable video and large media file delivery services that offer an appealing high quality option for consumers. Content owners can develop media-rich apps to extend their reach and protect their brand experience and help relieve network burden. The privately held company is headquartered in Seattle, WA with engineering teams in Redmond, WA and Monterrey, Mexico. For more information, please visit www.opanga.com.

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