SpiderCloud Wireless announced the closing of its Series B financing round, raising $25 million. SpiderCloud has now raised a total of $40 million to commercialize its enterprise radio access network system for mobile operators.
The latest round was led by Opus Capital, along with new investments from Shasta Ventures and existing Series A investors Charles River Ventures and Matrix Partners.
The company plans to use the funds to finalize product and to fund trials and operations, including hiring field support and engineers.
The company also announced the addition of Behrooz Parsay as its new senior vice president of engineering and operations. He has more than 20 years of experience in bringing wireline and wireless products and systems to market. He previously held RF engineering and management positions at Aperto Networks, Ericsson, DIVA, Kestrel and Lantern Communications.