SoftBank Ventures and Akamai Technologies invest in Saguna
Saguna Networks, a Mobile Edge Computing pioneer making mobile broadband faster, simpler and more economical, announced today that it closed a financing round led by SoftBank Ventures Korea Corp. (SBVK) and Akamai Technologies (NASDAQ: AKAM) supported by Saguna’s existing investors. Saguna will use the funding expand the company’s presence in North America, Asia and Europe as well as accelerate product development.
Saguna helps mobile operators improve user experience, monetization and network economics by bringing internet content and applications into the Radio Access Network (RAN); as close as possible to mobile users. The Saguna CODS Mobile Edge Computing platform creates secure and direct fast-track connections between internet content providers and web applications to mobile users and promotes network-aware content optimization with real-time feedback.
“We are delighted that Saguna Networks will be SoftBank Ventures Korea Corp’s (SBVK) first investment in Israel. Driven by users’ needs to feel constantly connected, mobile traffic is set to undergo explosive growth in the next 5 years with operators increasingly turning to technology to address bottlenecks. Saguna’s -Open-RAN is a compelling solution enabling operators to meet their critical future needs” said Daniel Kang, COO of SBVK. As part of the investment, SBVK’s Venture Partner, Ben Weiss, will join Saguna’s board as an Observer.
“With a combined understanding of mobile network conditions and the content and applications traversing the cellular network, a CDN supports a business model where mobile network operators and over-the-top (OTT) content providers develop smarter applications and create new revenue streams,” said Lior Netzer, vice president and general manager, Emerging Mobile Business Unit, Akamai. “Working together with Saguna, through both Akamai’s investment and technology collaboration, is intended to help broaden the possibilities presented by Saguna’s pioneering Mobile Edge Computing solution. Interestingly, Akamai and Saguna have already demonstrated the first CDN operating inside the mobile base station as a proof of concept and are actively exploring new collaborative opportunities. Further, I look forward to joining the Saguna board as an observer.”
“At Saguna, we are proud that industry leaders like Akamai Technologies and SoftBank Ventures Korea Corp. have chosen to invest in our company and the continued support of our existing investors. This is a testament to the value presented by Saguna’s Mobile Edge Computing technology for improving the user experience, improving economics and monetizing mobile networks.” Said Lior Fite, CEO, Saguna Networks.
About SoftBank Ventures Korea Corp.
Established in year 2000, SoftBank Ventures Korea is a venture capital arm of SoftBank Group based on Seoul, Korea. The SoftBank Group, is one of the largest technology and telecommunications corporations in the world, focused on mobile communications, broadband infrastructure, fixed-line telecommunications, and internet culture. SBVK has invested approximately USD 388M across 175 startup companies.
Akamai® is the leading provider of cloud services designed to help enterprises deliver the best online experiences on any device. Built on the Akamai Intelligent Platform™, Akamai solutions make the Internet fast, reliable and secure and are supported by unmatched expertise and visibility. Akamai removes the complexities of connecting the increasingly mobile world, supporting 24/7 access to online business and entertainment and enabling enterprises to leverage the cloud. To learn more pleasewww.akamai.com or blogs.akamai.com, and follow @Akamai on Twitter.
Saguna Networks powers Smart Mobile Networks by bringing an open cloud computing platform deep into the Radio Access Network. With field proven Saguna CODS Open-RAN mobile operators can provide an incredibly fast user experience while improving network economics and reducing congestion. Saguna opens the mobile network enabling mobile operators to monetize their networks and differentiate their offering through new partnerships and revenue-generating services. Founded in 2008, Saguna Networks is a privately held company. The company’s headquarters are located in Israel. For more information contact us at firstname.lastname@example.org, follow us @sagunanet or visit our websitewww.saguna.net.