Ra’anana, Israel – March 18, 2007 — Celeno Communications Inc. announced today the successful completion of a $14.2 million Series B financing led by Pitango Venture Capital and Greylock Partners. The existing investors group, also participated in the round.
Celeno is a fabless semiconductor company developing components and subsystems for multimedia carrier-class 802.11 WiFi home networks. Its Switched MIMO™ & Spatial QoS™ technologies enable service providers and consumers to quickly and simply deploy converged multimedia wireless home networks that can deliver multiple high-quality HDTV and SDTV video streams, VoIP and data content.
The Series B funding will enable Celeno to strengthen its product development and market penetration activities. Celeno also announced that Isaac Hillel, Managing General Partner at Pitango Venture Capital and Yoram Snir, partner at Greylock Partners have joined its board of directors.
Gilad Rozen, CEO and Founder of Celeno said: "Our level of engagement with key industry players in the home networking market demonstrates the increasing need for a true carrier-class wireless multimedia home networking solution" Rozen added: "We are pleased to have Pitango Venture Capital and Greylock Partners lead this round as our new investment partners and welcome Isaac and Yoram to the Celeno board of directors”.
“The problem that Celeno solves, delivering HD video and data in the home environment over WiFi is one of the most significant challenges for home networking” said Isaac Hillel, Managing General Partner of Pitango Venture Capital. “We are impressed with the product and the traction they have in the market”
"We are pleased to join Celeno and contribute to the success of the company.” said Yoram Snir, Partner at Greylock Partners. “The company has a very experienced and impressive team and solve an urgent problem with a large market potential.”
About Celeno Inc. (http://www.celeno.com)
Celeno is a fabless semiconductor company developing components and subsystems for multimedia carrier-class 802.11 WiFi home networks. Celeno’s breakthrough Switched MIMO™ & Spatial QoS™ technologies enable service providers and consumers to quickly and simply deploy converged multimedia wireless home networks that can securely deliver multiple high-quality HDTV and SDTV video streams, VoIP and data content throughout the home. The company was founded in early 2005 and has its HQ and R&D center in Ra’anana, Israel and a marketing and business development office in Silicon Valley, California.
About Pitango (http://www.pitango.com)
Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel and Silicon Valley, California, Pitango currently manages several venture funds totaling over $1 billion in committed capital invested in more than 100 companies. Pitango invests in high-growth companies in seed and early stages, supporting them as they grow. Pitango focuses on the IT/Communication sectors, as well as in Life Sciences, including Medical Devices and Biotech.
About Greylock Partners (http://www.greylock.com)
Founded in 1965, Greylock Partners is one of the world's leading venture capital firms. Over the past 41 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an "invited guest" in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, CheckFree, Continental Cable, Decru, DoubleClick, Internet Security Systems, Ikanos, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, RightNow Technologies, Tellabs, Trilogy and Wily Technology. Greylock's offices are located in Silicon Valley, the Boston area and Israel. For more information, please visit www.greylock.com.