Latest News Israel

WiFi Chipmaker Celeno Communications Raises $38M

Share |
Tuesday, September 13th, 2016

The Ra’anana-based WiFi provider has raised $107 million since it was founded.

As reported in Globes: 

Israeli startup Celeno Communications has completed a $38 million financing round. Founded in 2005 by president and CEO Gilad Rozen, the company supplies chips and software technology for managed WiFi apps. Red Dot Capital Partners, which focuses on investments in growth companies, led the round.New investors participated in the current round, including Poalim Capital Markets, and the OurCrowd investment fund. Previous investors also took part, including Liberty Global, Cisco, Pitango Venture Capital, 83North (formerly Greylock Israel), Vintage Investment Partners, and Miven.

Celeno has 120 employees, including 85 in its Ra’anana headquarters. The company also has representatives in the US, Europe, and Asia. Celeno today said that it would use the money raised to recruit 20 employees in a variety of areas, among other things. Market sources believe that the company’s annual turnover is in the high tens of millions of dollars. At the same time, a source close to the company declined to comment on the question of whether it was making a net profit.

Red Dot managing partner Zvika Naggan, who has now joined Celeno’s Board of Directors, said, “Celeno has made the crucial transition from an innovative, disruptive start-up to a global player alongside some of the Wi-Fi semiconductor industry’s largest players and the solution of choice for many of the most important global service providers. The growth and worldwide market presence that Celeno has established over time is remarkable, and a testament to their approach and the quality of their products. Celeno’s track record speaks for itself and Red Dot is excited to join the company as it grows and establishes itself as a formidable player in this space.”

The use of multiple wireless devices that simultaneously operate a range of applications and services can strain network capacity. However, Celeno’s technology can enable fast and reliable connections in such environments.

Celeno’s wifi chips and software technology are made available in tens of millions of homes through 75 leading service providers around the world. In 2011, Celeno announced a deal with iiNet, Australia’s second-largest internet service provider.