Tracxn - 5G Enablers Startup Landscape

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Jul 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on July 3, 2018.
5G Enablers Feed Summary
4
5G Enablers > Feed Summary
5G is the latest mobile telecommunication standard which is expected to commercialize by 2020. Its objectives include high spectrum
efficiency, low latency, simultaneous data speed of 1Gbps to multiple users, wider coverage, and lower power consumption. Currently, the
standard is in design and testing phase.
• Inclusions: Companies providing technologies that can enable the
commercialization of 5G in the future. Include software and hardware
solutions that automate, optimize the network (SON), solutions that
reduce the latency (MEC), solutions that enable faster deployment and
centralized control (SDN, NFV) of the network, and solutions which
provide high capacity backhaul using millimeter wave spectrum
(mmWAVE). Some of the companies are currently not providing the
solutions directly to the telecom industry but have the technology that
can be utilized in the commercialization of 5G in future.
• Exclusions: Excludes every other part of the Telecom value chain:
infrastructure (equipment, software), operations (OSS/BSS, system
integration), which is not related to the 5G standard. Excludes large
equipment vendors like Ericsson, Nokia Networks, Cisco which are
adding these technologies in their product portfolio. Also excludes
semiconductor/chip manufacturers
• Excludes funding information of Chinese companies Feed in Numbers
Overview
$4.6B
Funding
16
Mega
Companies
159212
FundedCovered on
Tracxn
3
Unicorns
31
Soonicorns
15
Minicorns
7
IPO’d Cos
108
Late Stage Cos
44
24
Acquisitions
7
DeadPooled
23
Acquihired
Series A+ Cos
VeloCloud
(2012, Mountain View, $83M, Acq)
Arista
(2005, Santa Clara, Public)
VMware
(1998, Palo Alto, $388M, Acq)
Top Companies

Investment Trend Summary
Summary of Funding Activity in 5G Enablers
5
$90M - Series E
Silver Peak (2004, Santa Clara, $154M)
$42M - Series B
Federated Wireless (2013, Arlington, $69M)
$89M - Series C
Cradlepoint (2004, Boise, $155M)
$35M - Series D
VeloCloud (2012, Mountain View, $83M)
$57M - Series C
Barefoot Networks (2013, Palo Alto, $155M)
$32M - Series E
Altiostar (Tewksbury, $244M)
$45M - Series D
Aryaka Networks (2009, Milpitas, $125M)
$30.7M - Series D
Big Switch Networks (2010, Mountain View,
$147M)
$43M - Series D
Cumulus Networks (2009, Mountain View,
$129M)
$30.7M - Series C
128 Technology (2014, Burlington, $62.7M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
5G Enablers > Feed Summary > Investment Trend Summary
Seed Maxfield Capital (#2), ACT Venture Partners (#1), Almaz Capital
(#1)
Series A/B Sequoia Capital (#5), Intel Capital (#3), Mayfield (#2)
Series C+
Cisco Investments (#5), AME Cloud Ventures (#2), Hermes
Growth Partners (#2)
Incubators
Magma Venture Partners (#2) Alchemist Accelerator (#1)
Jerusalem Venture Partners (#1)
Other Notable
Investors
AT&T (#2), BDC (#2), Fujitsu (#2)
Debt Investors
Western Technology Investment (#4), Hercules Capital (#1),
Mercia Technologies (#1)
Most Active InvestorsRecent Investments
39 28 43 33 30 14
$322M
$286M
$626M
$487M
$420M
$222M
2013 2014 2015 2016 2017 2018*
$ Funding # Rounds
$3.9B
$353M
$144M
$44M
$29.7M
US
Israel
Europe
Japan
Canada
$ Funding
21
16
12
14
5
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded

Summary of exit outlook in 5G Enablers
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Azure Capital
Partners
2
VMware (1998, Palo Alto, $388M)
Blue Planet (2006, Hanover, $97.6M)
Juniper
Networks
2
Virtela Communications (2000, Greenwood Village, $105M)
New
Enterprise
Associates
2
Nicira (2007, Palo Alto, $43.4M)
Norwest
Venture
Partners
2
Khosla
Ventures
2
Contrail Systems (2012, Santa Clara, $10M)
Arista (2005, Santa Clara)
Aug 2017 Viptela Acq by Cisco for $610M
May 2015 Blue Planet Acq by Ciena for $488M
Nov 2013 Insieme Networks Acq by Cisco for $863M
Oct 2013
Virtela Communications Acq by NTT
communications for $525M
Jan 2013 Intucell Acq by Cisco for $475M
Dec 2012
Contrail Systems Acq by Juniper Networks for
$176M
5G Enablers > Feed Summary > Exit Outlook Summary
Cisco 5
Insieme Networks (Nov 2013, $863M), Viptela (Aug 2017,
$610M), Intucell (Jan 2013, $475M)
VMware 3
Nicira (Jul 2012, $1.3B), PLUMgrid (Dec 2016), VeloCloud (Nov
2017)
Amdocs 2 Celcite (May 2013, $129M), Actix (Sep 2013, $120M)
Ciena 2 Blue Planet (May 2015, $488M), Cyan (Aug 2015)
Hewlett-Packard 1 ConteXtream (May 2015)
Recent IPOs Top Acquisitions
VMware Aug 2007
Virtualization Software
IPO MCap: $10.9B Current MCap: -
ISCO International Jul 2002
Spectrum conditioning solutions provider
IPO MCap: - Current MCap: -
Unwired Planet Jun 1999
Context aware mediation and messaging sol…
IPO MCap: $488M Current MCap: -
Megaport Dec 2015
SDN-based interconnect/connectivity provi…
IPO MCap: $63M Current MCap: -
Arista Jun 2014
Software driven Cloud networking solution…
IPO MCap: $2.7B Current MCap: $18.4B
xG Technology Jul 2011
Wireless video/connectivity and radio spe…
IPO MCap: $62.8M Current MCap: $12.4M
Pareteum Jan 2011
SDN and NFV based mobile core network pla…
IPO MCap: - Current MCap: -

For any Feedback and Query reach out to MyAnalyst@tracxn.com* Upcoming Business Model
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
FACTSHEET
Feed Report - 5G Enablers - Jun 20187 Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.
Marketmap: 5G Enablers
CORE NETWORK
SOFTWARE DEFINED
NETWORKING (SDN)
TRANSPORT NETWORK
SD-WAN
CONTROLLER
SWITCH
NETWORK MANAGEMENT
NETWORK-AS-A-SERVICE
OPERATING SYSTEM
INTERNET EXCHANGE POINT*
NETWORK FUNCTION
VIRTUALIZATION (NFV)
Overview
Companies 212
Funded 159 Series A+ 108
Funding $4.6B Last 2 yrs $820M
Most Active Investors
Seed Maxfield Capital (2)
Series A/B Sequoia Capital (5)
Series C+ Cisco Investments (5)
Others AT&T (2)
Incubators Magma VP (2)
Top Cities
Bay Area 63 Cos $2.4B
Tewksbury 1 Cos $231M
Feed in Numbers
Unicorns 3 Soonicorns 31
Minicorns 15 Editor Picks 89
Acquihired 23 Deadpooled 7
Top Companies
VMware (1998, Palo Alto, $388M, Acq)
VeloCloud (2012, Mountain View, $83M, Acq)
Arista (2005, Santa Clara, Public)
Exits
IPOs 7 Arista, Megaport
Acquisitions 24 Blue Planet, Viptela
Top Acquirers Cisco, VMware
5G Enablers > Feed Summary > BlueBox
MILLIMETER WAVE
(mmWAVE)
RADIO ACCESS NETWORK
SPECTRUM EFFICIENCY
SELF-ORGANIZED NETWORK
(SON)
ANTENNA*
MOBILE EDGE COMPUTING
(MEC)*
CLOUD RAN (C-RAN)

Key Sub Sectors in 5G Enablers Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Core Network > Software Defined
Networking (SDN) >
SD-WAN
13 $265M 7
Radio Access Network (RAN) >
Antenna 13 $65.3M 10
Core Network > Software Defined
Networking (SDN) >
Controller
14 $93.2M 5
Spectrum Efficiency 24 $64.5M 8
Core Network >
Network Function Virtualization
(NFV)
21 $18.1M 3
Mobile Edge Computing (MEC) 11 $13.8M 3
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Core Network
Companies that provide solutions for Software
Defined Networking (SDN) and virtualization...
115 87 $3B
Radio Access Network (RAN)
Companies that provide solutions which enable self-
organization, improve spectrum efficiency...
80 60 $1.3B
Transport Network
Companies that provide solutions for fixed wireless
access using millimeter wave frequency...
17 12 $255M
5G Enablers > Feed Summary > Summary of Key Markets

List of Notable Companies in 5G Enablers
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
5G Enablers > Feed Summary > Notable Companies in the Sector
Public
VMware
(1998, Palo Alto, $388M)*
Arista
(2005, Santa Clara)
Unwired Planet
(1994, Redwood City, $33M)
Megaport
(2013, Brisbane, $25.2M)
xG Technology
(2002, Sarasota)
ISCO International
(1989, Schaumburg)
Pareteum
(2001, Barcelona)
Acquired
Nicira
(2007, Palo Alto, $43.4M)
Insieme Networks
(2013, California)
Viptela
(2012, San Jose, $109M)
Virtela
Communications
(2000, Greenwood Village,
$105M)
Blue Planet
(2006, Hanover, $97.6M)
Intucell
(2008, Ra'anana, $8.5M)
Contrail Systems
(2012, Santa Clara, $10M)
Celcite
(2003, Herndon)
Actix
(1981, London, $76.1M)

List of Notable Companies by Market in 5G Enablers
Notable Companies by Market (1/5)
11
5G Enablers > Feed Summary > Notable Companies by Market
Self-Organized Network (SON)
Actix (1981, London, $76.1M)
Mobile network analytics and optimization
Stage: Acquired
Summit Partners
Intucell (2008, Ra'anana, $8.5M)
Software platform for SON (Self Optimizing
Network)
Editor's Pick. Stage: Acquired
Bessemer Venture Partners, Genesis Partners
Celcite (2003, Herndon)
SON and network management solutions
Stage: Acquired
Mobile Edge Computing (MEC)
Qwilt (2010, Hod Hasharon, $65.1M)
Open caching and video delivery platform at mobile
edge
Soonicorn. Stage: Series D
Accel Partners, Redpoint Ventures, Innovation
Endeavors and 5 Other Investors
Vasona Networks (2010, Tel Aviv, $48M)
Solutions for mobile efficiency at the edge
Soonicorn. Stage: Series C
New Venture Partners, Bessemer Venture Partners,
NexStar Partners and 1 Other Investors
ASOCS (2003, Rosh Haayin, $29.3M)
Mobile edge cloud solution for enhanced network
capacity and secure connectivity
Taylor Frigon, FinTech Global Incorporated, Vertex
Ventures and 4 Other Investors
Cloud RAN (C-RAN)
SpiderCloud (2007, San Jose, $136M)
Scalable Multi-Access Small Cell Systems
Soonicorn. Stage: Acquired
Charles River Ventures, Matrix Partners, Opus
Capital and 3 Other Investors

12
Spectrum Efficiency
Saas based spectrum efficiency solutions provider
Soonicorn. Stage: Series B
Charter Communications, American Tower, ARRIS
and 3 Other Investors
Kumu Networks (2011, Sunnyvale, $45.4M)
Spectrum efficiency using full-duplex technology
Verizon Ventures, Deutsche Telekom, New
Enterprise Associates and 7 Other Investors
Cohere Technologies (2013, Santa Clara,
$35M)
OTFS based wireless connectivity
Lightspeed Venture Partners, AME Cloud Ventures,
Macquarie SBI Infrastructure Management and 5
Other Investors
Spectrum Efficiency
Unwired Planet (1994, Redwood City, $33M)
Context aware mediation and messaging solutions
Stage: Public
ABN AMRO Bank, Qualcomm Ventures, Bell Canada
Flash Networks (1996, Herzliya, $32.2M)
Internet optimization and monetization solutions
Viola Group, The Challenge Fund-Etgar, Evergreen
Venture Partners and 15 Other Investors
ISCO International (1989, Schaumburg)
Stage: Public
ARCH Venture Partners, Batterson Venture Capital
xG Technology (2002, Sarasota)
Wireless video/connectivity and radio spectrum
sharing solutions provider
Stage: Public
Blooston, Mordkofsky, Dicken and 1 Other
Investors
Movandi (2016, Newport Beach, $28.5M)
5G antenna solutions with beamforming technology
Minicorn. Stage: Series B
Cota Capital, Sierra Ventures
Blue Danube Systems (2006, San Francisco,
$23.9M)
Wireless antenna solutions to increase capacity
Northgate Capital, Sequoia Capital, AT&T, Walnut
Venture Associates
Metawave (2017, Palo Alto, $17M)
Smart radar and 5G antenna systems provider
Minicorn. Stage: Series A
Hyundai Motor Company, Denso Corporation, AGC
Glass Company and 12 Other Investors
Pivotal Commware (2016, Bellevue, $17M)
Software-defined antenna provider
Thermo Companies, DIG Investment, Bill Gates and
2 Other Investors
Antenna

13
Core Network
Software Defined Networking (SDN)
$147M)
Software Defined Network Control Fabric
Dell Technologies, Silver Lake, Index Ventures and
10 Other Investors
$129M)
Linux operating system for networking hardware
Telstra Global, Andreessen Horowitz, Battery
WAN optimization and Accelerated application
delivery
Deutsche Telekom Capital Partners, Third Point
Ventures, Trinity Ventures and 6 Other Investors
Virtela Communications (2000, Greenwood
Village, $105M)
Virtual Overlay Network Services
Stage: Acquired
Norwest Venture Partners, New Enterprise
Associates, Palomar Ventures and 4 Other Investors
Multi-Vendor network management
Stage: Acquired
Azure Capital Partners, Norwest Venture Partners,
Tenaya Capital and 5 Other Investors
High-speed programmable switches
Tencent, Alibaba, Goldman Sachs and 8 Other
Investors
Network Routers and Services
Technology Crossover Ventures, Sorenson Capital,
Delta-v Capital and 5 Other Investors
WAN Optimization and Data Acceleration
Soonicorn. Stage: Series E
Technology Crossover Ventures, Benchmark
Capital, Duff Ackerman & Goodrich and 8 Other
Investors
Viptela (2012, San Jose, $109M)
Providing Secure Extensible Networks
Sequoia Capital, Redline Capital Management,
Northgate Capital and 1 Other Investors
Pluribus Networks (2010, Palo Alto, $92.5M)
Software-defined networks for data centers
Temasek, Ericsson, Newtech Technology and 8
Other Investors

14
Core Network
Console Connect (2011, Santa Clara, $56.6M)
Global software-defined IXP provider
Formation 8, New Enterprise Associates, AME
Cloud Ventures and 6 Other Investors
Luminate Wireless (2013, Cupertino, $48M)
Cloud-enabled Mobile Network Connection
Sequoia Capital, New Enterprise Associates,
Qualcomm and 4 Other Investors
Talari (2004, San Jose, $45.3M)
Creating WAN by aggregation of private
connections
Square 1 Bank, Menlo Ventures, Silver Creek
CloudGenix (2013, Santa Clara, $34M)
Software-defined WANs
Intel Capital, Bain Capital Ventures, Mayfield and 1
Other Investors
Cenx (2009, Jersey City, $27M)
Lifecycle Service Orchestration (LSO) for SDN &
NFV
Mistral Ventures, VMware, Highland Capital
Partners and 8 Other Investors
Megaport (2013, Brisbane, $25.2M)
SDN-based interconnect/connectivity provider
Stage: Public
Controller for SDN
Stage: Acquired
Khosla Ventures
Software driven Cloud networking solutions
Unicorn. Stage: Public
Accel Partners, Redpoint Ventures, Index Ventures
Insieme Networks (2013, California)
Hardware based response to SDN & NFV
Plexxi (2010, Cambridge, $83.4M)
Affinity networking services
GV, Lightspeed Venture Partners, Matrix Partners
Cloud Based WAN Optimization
Hermes Growth Partners, Khazanah, New
Software based networking platform for distributed
routing and network services
G20 Ventures, The Perkins Fund
Versa Networks (2012, Cupertino, $57.4M)
SD-WAN and SD-Security solutions based on NFV
Verizon Ventures, Sequoia Capital, Mayfield and 2
Other Investors

15
Core Network
Pareteum (2001, Barcelona)
SDN and NFV based mobile core network platform
provider
Stage: Public
QAT Investments, Saffelberg
Network Function Virtualization (NFV)
VMware (1998, Palo Alto, $388M)
Unicorn. Stage: Public
Carl Icahn, Cisco, Intel Capital and 5 Other Investors
Affirmed Networks (2010, Middlesex, $117M)
Mobile network virtualization solution
Bessemer Venture Partners, Charles River
Ventures, Matrix Partners and 3 Other Investors
Midokura (2010, Tokyo, $44M)
Network Virtualization leveraging existing physical
infrastructure
Simplex, Innovation Network Corporation of Japan,
Fujitsu and 4 Other Investors
Network Virtualization platform for SDDC
Unicorn. Stage: Acquired
Lightspeed Venture Partners, New Enterprise
Associates, Andreessen Horowitz
Transport Network
Millimeter Wave (mmWave)
Siklu (2008, Tel Aviv, $49M)
E-band and V-band radios manufacturer
Sercomm, Evergreen Venture Partners, Qualcomm
Fastback Networks (2010, California City,
$41M)
wireless backhaul technology for 4G/5G LTE
mobile infrastructure,
Harmony Partners, Foundation Capital, Juniper
Networks and 3 Other Investors
Mimosa (2012, Campbell, $38M)
Wireless broadband equipment and network &
device management solutions provider
New Enterprise Associates, Oak Investment
Partners
Multapplied Networks (2008, Chilliwack)
Bonded internet and white-label platform to deploy
SD-WAN
Madison Partners, Victory Square Technologies

List of Notable Companies in 5G Enablers in China
Notable Companies in the Sector in China
16
5G Enablers > Feed Summary > Notable Companies in the Sector in China
Soonicorns
Algoblu
(2012, Beijin)

Recent News in 5G Enablers Sector
Recent News
17
5G Enablers > Feed Summary > Recent News
Jul 2018
Dell is about to be public again, but its CEO says there are no plans
to merge with VMware, Business Insider
Jul 2018
This US company holds clue to Reliance Jio's next big game plan in
India, Gadgets Now
Jul 2018 Dell moves to go public, spurns IPO, Reuters
Jul 2018 Reliance acquires Radisys for 5G and IoT , ZDNet
Jul 2018
Struggling Hillsboro tech company Radisys sells for $67 million,
OregonLive.com
Jun 2018 Reliance Industries to Acquire Radisys, Business Wire
Jun 2018
Vasona Taps F5's Load Balancer to Scale Virtual Multi-access Edge
Computing(MEC) Deployments for Operators, The Fast Mode
Jun 2018
Pareteum Secures a Total of $55 Million in New Contracts in the
Second Quarter of 2018, PR Newswire
Jun 2018 VMware names new country director for Saudi Arabia, Telecompaper
Jun 2018 SD-WAN Revolutionizes Manufacturing IT, GlobeNewswire
Jun 2018
VMware updates Pivotal Container Service with latest Kubernetes
release, SiliconAngle
Jun 2018 Arista Networks Notches Victory In Patent Battle With Cisco, CRN
Jun 2018 VMware Grows Kubernetes Options With VKE, PKS Services, eWEEK
Jun 2018
FOX Networks Trials Barefoot Networks’ Tofino Programmable
Chip, SDxCentral
Key Recent News Key Recent News
Jun 2018
CloudGenix Chosen as 2018 Red Herring Top 100 North America
Winner, GlobeNewswire
Jun 2018
Pareteum Awarded $3.5 Million Contract from Mobile Service
Provider, PR Newswire
Jun 2018
Silver Peak EdgeConnect SD-WAN Solution Awarded Interop Tokyo
Best of Show, Business Wire
Jun 2018
NTT Communications and VMware Expand Global Cloud
Partnership, Business Wire
Jun 2018 Dell, VMware Still Dominate HCI Charts, Says IDC, SDxCentral
Jun 2018
e-Qual picks Nuage Networks to deploy worldwide SD-WAN
business services, Telecompaper
Jun 2018
Sedona Systems Selected as a 2018 Cool Vendor in Communications
Service Provider Network Operations by Gartner, PR Newswire
Jun 2018
VMware Kubernetes Engine SaaS Battles Deployment Complexity,
SDxCentral
Jun 2018
Megaport Enables Dedicated Access to Newly Expanded Oracle
Cloud Infrastructure with Oracle FastConnect Locations in London,
PR Newswire
Jun 2018 China Telecom, CCS set up China Telecom Finance, Telecompaper
Jun 2018
xG Technology Completes the Remainder of Previously-Announced
Cost Reduction Initiatives, Bringing Total to $5 Million Annual
Savings, PR Newswire
Jun 2018
Silver Peak Announces $90 Million Investment From TCV to
Accelerate SD-WAN Growth, Business Wire

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
18
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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$404M
$319M $322M
$286M
$626M
$487M
$420M
$222M
0
5
10
15
20
25
30
35
40
45
50
$0k
$100M
$200M
$300M
$400M
$500M
$600M
$700M
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding # Rounds
Investments ($M) and number of rounds in 5G Enablers; 2011-2018
Global Funding Trends (1/2)
20
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
5G Enablers > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 2% # of Rounds1% $ Funding
5% # of Rounds
14% $ Funding

$3M $8M $7M $3M $8M
$5M
$13M $1M
$224M
$198M
$180M $223M $324M $115M $116M
$56M
$176M $113M $135M $59M
$294M
$366M $291M $165M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
7 9 9 7 11 7 9 3
24
19 24 17
20
13
11 8
9 6 6 4 12 13 10 3
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
40
14
Total # of Rounds
$163M $180M
$121M $135M
$429M $411M
$320M
$190M
0
2
4
6
8
10
12
14
0
50000000
100000000
150000000
200000000
250000000
300000000
350000000
400000000
450000000
500000000
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding # of Rounds
21
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded ClubMega Rounds
Global Funding Trends (2/2)
Investments ($M) and number of rounds in 5G Enablers; 2011-2018
5G Enablers > Investment Trends > Global Funding Trends
28
15
8
15
9
7
4
86
$6.0M
$5.6M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
$7.0M
$8.0M
$9.0M
$10.0M
0
10
20
30
40
50
60
70
80
90
100
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
6 6 3 5 11 12 8 4 $6M $2.7M $8.1M $4M $3.5M $5.8M $8.9M $5.6M
$404M
$222M
Total $ Invested

5G Enablers > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in 5G Enablers
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 2.4B 147
Tewksbury 231M 8
Boise 155M 7
Middlesex 117M 5
Tel Aviv 100M 7
Hanover 97.6M 6
Burlington 94.6M 6
Cambridge 92.3M 7
London 76.1M 1
San Diego 73M 7
Total Funding
80
40
39
4
9
1
4
# Rounds
$3.9B
$353M
$144M
$44M
$29.7M
$7.4M
$3.3M
US
Israel
Europe
Japan
Canada
Australia
India
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.8
$1.3
$1.0
$0.8 $0.9
$1.3 $1.5
2011 2012 2013 2014 2015 2016 2017
$8.0 $8.5 $6.3 $9.4 $8.5
$5.9 $6.5
$12.1
$22.0
$11.7
$18.5
$29.4
$15.6
$23.3
$19.6
$22.7
$27.0
$14.7
$29.4 $33.3 $29.1
5G Enablers > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in 5G Enablers; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$16.5K* $7M
$1M $24M
$1.5M $52M
$1M $90M
$25M
$15.6M
$7.1M
$800K
Series C+
Series B
Series A
Seed
Stage

Note: 38 companies with undisclosed funding amount are not included
24
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
8
36
53
13
12
No. of Companies
5G Enablers > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in 5G Enablers; as of Jul 2018
Distribution of companies by Funding Range
$4M
$159M
$1.5B
$966M
$2.B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
75%
51%
33%
21%
25
Note: Numbers in the brackets show the count of companies
Time to raise
next round
44
70
108
159
212
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
75% 20%
(42)
8%
(16)
18%
(38)
3%
(7)
4%
(8)
68% 26%
(41)
9%
(15)
22%
(35)
4%
(6)
6%
(10)
65% 33%
(36)
9%
(10)
22%
(24)
4%
(4)
9%
(10)
63% 47%
(33)
10%
(7)
27%
(19)
3%
(2)
7%
(5)
- 61%
(27)
14%
(6)
25%
(11)
2%
(1)
23%
(10)
5G Enablers > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in 5G Enablers
Funding Funnel
19 Months
18 Months
25 Months
Investment backedBootstrapped
31
3
23
7
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
5G Enablers > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in 5G Enablers; Jul 2016-Jul 2018
Notable Investments in last 24 months (1/3)
LATE STAGE
$90M - Series E Jun 2018
Technology Crossover Ventures
$89M - Series C Mar 2017
Technology Crossover Ventures
$45M - Series D Jan 2017
delivery
Ventures
$43M - Series D Jan 2018
$129M)
Linux operating system for networking hardware
Telstra Global, Andreessen Horowitz, Battery
Ventures, Sequoia Capital
LATE STAGE
$35M - Series D Mar 2017
Hermes Growth Partners, Khazanah, New Enterprise
Associates, Venrock, March Capital Partners, Cisco
Investments, Telstra Global
$32M - Series E Jan 2018
Virtualized RAN & NFV solutions provider
Tech Mahindra
$30.7M - Series D Jul 2017
$147M)
Dell Technologies, Silver Lake, Index Ventures,
Morgenthaler, MSD Capital, Redpoint Ventures,
Khosla Ventures, Intel Capital
LATE STAGE
$30.7M - Series C May 2017
G20 Ventures
$30M - Series E Sep 2016
$27M - Series E Jan 2017
$23M - Series C Nov 2016
Tencent, Alibaba
$20.7M - Series C Jun 2017
$147M)

LATE STAGE
$10M - Series C Oct 2017
ASOCS (2003, Rosh Haayin, $29.3M)
Mobile edge cloud solution for enhanced network
capacity and secure connectivity
Taylor Frigon
$1M - Series D May 2017
Creating WAN by aggregation of private connections
EARLY STAGE
$42M - Series B Sep 2017
Saas based spectrum efficiency solutions provider
Charter Communications, American Tower, ARRIS,
GIC
$25M - Series B Jan 2018
PacketFabric (2015, Los Angeles, $25M)
Software controlled interconnection network
services
NantWorks
$19.5M - Series B Nov 2017
$17M - Series A Jun 2017
Thermo Companies, DIG Investment, Bill Gates, Lux
Capital, Barry Sternlicht
EARLY STAGE
$13.8M - Series A Jan 2017
TiBit Communications (2014, Petaluma,
$16.1M)
Modules to virtualize access network using optical
switches
$13.6M - Series B Aug 2016
Sedona Systems (2014, Ra'anana, $19.6M)
Real Time Network Layer Monitoring
Intel Capital, Bessemer Venture Partners
$10M - Series A May 2018
Glass Company, Toyota AI Ventures, Motus
Ventures, Khosla Ventures, Autotech Ventures, Bold
Capital Partners, SAIC Capital, Western Technology
Investment, Alrai Capital
$9M - Series A Oct 2016

EARLY STAGE
$8.5M - Series B Jun 2017
Digital Global Systems (2012, Beltsville, $21M)
Spectrum management, interference mitigation, and
asset protection solutions provider
Ancora
$7M - Series A Dec 2017
GenXComm (2016, Austin, $9.3M)
Full-duplex based wireless backhaul solutions
provider
Intel Capital, Azure Capital Partners, Bandgap
Ventures, Capital Factory, University of Texas
System Office of Technology Commercialization, Lip-
Bu Tan
$4.9M - Series A Jan 2018
Bigleaf (2012, Beaverton, $6.4M)
SD-WAN optimization and redundancy service for
network
GoAhead Ventures, Oregon Angel Fund, Portland
Seed Fund, Seattle Angel Fund
EARLY STAGE
$3.5M - Series B Feb 2018
Digital Global Systems (2012, Beltsville, $21M)
Spectrum management, interference mitigation, and
asset protection solutions provider
$2.7M - Series A Nov 2017
Anova Data (2007, Westford, $5.4M)
Real time intelligence at the radio edge
$2.3M - Series A Mar 2018
TiBit Communications (2014, Petaluma,
$16.1M)
Modules to virtualize access network using optical
switches
Series B May 2018
Intel Capital
SEED STAGE
$7M - Seed Sep 2017
Thyra Global, Khosla Ventures, Motus Ventures,
SAIC USA Inc., Western Technology Investment,
Autotech Ventures, Alrai Capital, Bold Capital
Partners, Rising Tide Fund
$1.5M - Seed Jun 2017
provider
University of Texas System Office of Technology
Commercialization
$807k - Seed Jan 2017
provider

5G Enablers > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
Series C Jun 2017
Algoblu (2012, Beijin)
Virtual internet application service provider based
on SDN
Cathay Capital
EARLY STAGE
Series B Oct 2016
Algoblu (2012, Beijin)
Virtual internet application service provider based
on SDN
Korea Investment Partners

Most Active Investors (VC, PE) by Stage in 5G Enablers; Last 5 years (Jul 2013-Jul 2018)
Most Active VC & PE Investors
30
5G Enablers > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Maxfield Capital(2 Investments)
Yoics, NFWare
1
TMT Investments
Yoics
2
Lightspeed Venture Partners
Barefoot Networks
3
Khosla Ventures
Metawave
4
Almaz Capital
NFWare
5
Motus Ventures
Metawave
6
Bold Capital Partners
Metawave
7
Autotech Ventures
Metawave
8
Alrai Capital
Metawave
9
DN Capital
Parallel Wireless
10
EARLY STAGE
Sequoia Capital (5 Investments)
Cumulus Networks, Viptela, Barefoot Networks
1
Intel Capital (3 Investments)
CloudGenix, Sedona Systems, GenXComm
2
New Enterprise Associates(2 Investments)
Console Connect, Luminate Wireless
3
Qualcomm Ventures (2 Investments)
PLUMgrid, M87
4
Verizon Ventures(2 Investments)
Versa Networks, Lumina Networks
5
Mayfield(2 Investments)
Versa Networks, CloudGenix
6
North Bridge
RIFT.io
7
Charles River Ventures
CloudGenix
8
Khosla Ventures
Kumu Networks
9
Bessemer Venture Partners
Sedona Systems
10
LATE STAGE
Cisco Investments(5 Investments)
Qwilt, Kumu Networks, Embrane
1
Deutsche Telekom Capital Partners (2
Investments)
Aryaka Networks, Ngena
2
AME Cloud Ventures(2 Investments)
Pluribus Networks, Cohere Technologies
3
Hermes Growth Partners(2 Investments)
Barefoot Networks, VeloCloud
4
New Enterprise Associates
Cohere Technologies
5
Cohere Technologies
6
Qwilt
7
Presidio Ventures
Embrane
8
Verizon Ventures
Kumu Networks
9
Third Point Ventures
Aryaka Networks
10

5G Enablers > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in 5G Enablers; Last 5 years (Jul 2013-Jul 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Magma Venture Partners(2 Investments)
Teridion, Oliver Solutions
1
Alchemist Accelerator
Puloli
2
Jerusalem Venture Partners
Teridion
3
Portland Seed Fund
Bigleaf
4
Startupbootcamp
Wimark
5
OTHER NOTABLE INVESTORS
AT&T(2 Investments)
Blue Danube Systems, Lumina Networks
1
BDC(2 Investments)
Cenx, Corsa
2
Fujitsu(2 Investments)
Midokura, UBiqube
3
Swisscom(2 Investments)
Kumu Networks, PLUMgrid
4
Technology Crossover Ventures(2
Investments)
Cradlepoint, Silver Peak
5
Telecom Infra Project(2 Investments)
Airrays, BISDN
6
Deutsche Telekom(2 Investments)
Kumu Networks, Flash Networks
7
Telstra Global(2 Investments)
Cumulus Networks, VeloCloud
8
21vianet
M87
9
Accton Technology
Big Switch Networks
10
DEBT INVESTORS
Western Technology Investment(4
Investments)
SpiderCloud, Metawave, ClearPath Networks
1
Hercules Capital
BridgeWave
2
Mercia Technologies
Smart Antenna Tech
3

5G Enablers > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/5)

5G Enablers > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
38
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

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May 2018

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Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
FACTSHEET
Feed Report - 5G Enablers - Jun 201840 Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.
Marketmap: 5G Enablers 5G Enablers > Market Details > BlueBox

Key Sub Sectors
41
Key Sub Sectors in 5G Enablers
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Core Network
Companies that provide solutions for Software Defined Networking (SDN) and virtualization
of the net....
VMware (1998, Palo Alto, Public)
Barefoot Networks (2013, Palo Alto,
$155M)
115 87 $3B
Companies that provide solutions which enable self-organization, improve spectrum
efficiency and ena....
SpiderCloud (2007, San Jose, Acquired)
Altiostar (2011, Tewksbury, $244M)
80 60 $1.3B
Transport Network
Companies that provide solutions for fixed wireless access using millimeter wave frequency
spectrum ....
BridgeWave (1999, Santa Clara, Acquired)
LightPointe (1998, San Diego, $62M)
17 12 $255M
5G Enablers > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/2)
42
5G Enablers > Market Details > Detailed Sector Taxonomy

Detailed Sector Taxonomy (2/2)
43
5G Enablers > Market Details > Detailed Sector Taxonomy

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+1)
Core Network > Software Defined Networking (SDN) > SD-WAN
Companies that provide SDN-based WAN solutions
(Companies covered 13 | Funded 10 | Total Funding $768M)
$265M
(-$238M)
7
(-28)
Silver Peak
2
(+4)
Radio Access Network (RAN) > Antenna
Companies that provide MIMO (multi input multi output) antenna solutions by activating large number
of active antenna elements
$65.3M
(+$39.7M)
10
(+5)
Movandi
(2016, Newport Beach, $28.5M)
3
(+1)
Core Network > Software Defined Networking (SDN) > Controller
Companies that provide SDN controller including equipment and OS
$93.2M
(-$138M)
5
(-11)
Big Switch Networks
(2010, Mountain View, $147M)
4
(-1)
Radio Access Network (RAN) > Spectrum Efficiency
Companies that provide solutions to improve the spectrum efficiency and bandwidth optimization
$64.5M
(-$269M)
8
(-28)
Federated Wireless
(2013, Arlington, $69M)
5
(-4)
Core Network > Network Function Virtualization (NFV)
Companies that provide Network Function Virtualization solutions which offer virtualization of the
proprietary network equipment for cost efficiency and reduced deployment time
$18.1M
(-$748M)
3
(-36)
TiBit Communications
(2014, Petaluma, $16.1M)
6
(-1)
Radio Access Network (RAN) > Mobile Edge Computing (MEC)
Companies that provide computing solutions at the edge of the network to make the network
intelligent based on the user location, preference, requirement and improve QoE
$13.8M
(-$167M)
3
(-20)
ASOCS
(2003, Rosh Haayin, $29.3M)
44
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in 5G Enablers in last 2 years (July 2016 - June 2018)
5G Enablers > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Core Network > Software Defined Networking (SDN) > Network Management
Companies that provide SDN-based network management solutions
(Companies created 21 | Funded 12 | Total Funding $258M )
1 Sedona Systems (2014, Ra'anana, $19.6M)
2
Radio Access Network (RAN) > Spectrum Efficiency
Companies that provide solutions to improve the spectrum efficiency and bandwidth optimization
1 GenXComm (2016, Austin, $9.3M)
3
Core Network > Software Defined Networking (SDN) > SD-WAN
Companies that provide SDN-based WAN solutions
1 CloudGenix (2013, Santa Clara, $34M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
45
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (July 2016 - June 2018)
5G Enablers > Market Details > Top Markets of Early Stage Investors

Incubators The Fabric (#1), Portland Seed Fund (#1)
Seed
Series A/B Sequoia Capital (#2), Mayfield (#2)
Series C+
Technology Crossover Ventures (#2), J and W Seligman
(#1)
VeloCloud Nov - 2017
Acq by VMware
$90M - Series E
Series B
$4.9M - Series A
$1M - Series D
$89M - Series C
$35M - Series D
VeloCloud (2012, Mountain View,
$83M)
$45M - Series D
Aryaka Networks (2009, Milpitas,
$125M)
$75M - Series C
$27M - Series C
VeloCloud (2012, Mountain View,
$83M)
$43M - Series B
Versa Networks (2012, Cupertino,
$57.4M)
Jul 2017
Bigleaf Expands Channel Presence with TBI Partnership,
Marketwired
Dec 2017
Silver Peak Surpasses 600 SD-WAN Customer Deployments
Worldwide, Business Wire
Aug 2017
Verizon sets SD-WAN sights on small and medium business
branches, adds Versa to growing product portfolio, Fierce
Telecom
Aug 2017
Versa Networks brings SD-Branch to Verizon platform,
RCRWireless
Aug 2017 Talari Adds WAN Opt and Bolsters SD, SDxCentral
Jul 2012
Trinity Capital Investment Commits $1.5 Million to
Cradlepoint, Trinity Capital Investment
Jul 2017 Viptela Cloud onRamp optimizes cloud access, Network World
Jun 2017
Aryaka Networks Launches SmartACCESS Remote Access
Solution, Bizety
Sep 2017
VeloCloud Gets Service Providers To 'Ready, Set, Go' Sell SD-
WAN, CRN
Sep 2017
VeloCloud Boasts 50 Operator Partners; Launches Fast to
Market Offering, The Fast Mode
Sep 2017
China Telecom launches SD-WAN services with Versa
Networks, Telecompaper
Dec 2017
SD-WAN Market Report Names Aryaka a Top SD-WAN
Provider , GlobeNewswire
Nov 2012
Vice or Versa? Either way, stealth networking startup gets
$14.35M, VentureBeat
Sep 2017 Silver Peak, NEISC seal global distribution deal, iTWire
News
0
1
2
3
4
5
6
7
$0k
$50M
$100M
$150M
$200M
2014 2015 2016 2017 2018
YoY Funding Rounds
2
7
10
10
13
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Core Network > Software Defined Networking (SDN) > SD-WAN: Market Factsheet
46
Exits
Recent Investments
YoY Funding and Rounds
Companies that provide SDN-
based WAN solutions
Cradlepoint
(2004, Boise, $155M)
Silver Peak
Aryaka Networks
(2009, Milpitas, $125M)
Viptela
(2012, San Jose, $109M)
Top Companies
#1 Top Markets of Investment Activity
5G Enablers > Market Details > Market: SD-WAN
Companies Created 13 | Funded 10 | Total Funding $768M
Market: SD-WAN

Core Network > Software Defined Networking (SDN) > SD-WAN: Top Companies
Market: SD-WAN
Analyst’s Pick
Technology Crossover Ventures, Sorenson Capital,
Delta-v Capital and 5 Other Investors
Soonicorn. Stage: Series E
Technology Crossover Ventures, Benchmark
Capital, Duff Ackerman & Goodrich and 8 Other
Investors
delivery
Ventures, Trinity Ventures and 6 Other Investors
Sequoia Capital, Redline Capital Management,
Northgate Capital, Moment Ventures
Analyst’s Pick
Hermes Growth Partners, Khazanah, New
Versa Networks (2012, Cupertino, $57.4M)
SD-WAN and SD-Security solutions based on NFV
Verizon Ventures, Sequoia Capital, Mayfield and 2
Other Investors
Creating WAN by aggregation of private
connections
Square 1 Bank, Menlo Ventures, Silver Creek
Intel Capital, Bain Capital Ventures, Mayfield,
Charles River Ventures
Analyst’s Pick
SD-WAN optimization and redundancy service for
network
GoAhead Ventures, Oregon Angel Fund, Portland
Seed Fund and 2 Other Investors
Multapplied Networks (2008, Chilliwack)
Bonded internet and white-label platform to deploy
SD-WAN
Madison Partners, Victory Square Technologies

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
48
Core Network > Software Defined Networking (SDN) > SD-WAN: Leaderboard
Better than Market Average
Market: SD-WAN
Overall
Rating
Company
Name
Foun
ded
Year
Location Stage Funding Team
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Cradlepoint 2004 Boise Series C $155M - 4 - - 11 136k 3.4k 3k 41 -15k -10% 1 3% 157 5%
4.6
Aryaka
Networks
2009 Milpitas Series D $125M 5 - - - 19 362k 14k - - 70k 24% - - 1.2k 9%
4.2 VeloCloud 2012
Mountain
View
Acquired $83M 5 - - - 44 425k 4.8k - - -9k -2% - - 357 8%
3.8 Silver Peak 2004 Santa Clara Series E $154M - - - - 18 212k 28k - - -92k -30% - - 100 -
3.3 TELoIP 2002 Mississauga Unfunded - - - - 4 - - 4.6k - - - - - - -80 -2%
2.9 Talari 2004 San Jose Series D $45.3M 5 - - - 6 1.1M 2k - - 49k 4% - - 223 13%
2.5
Versa
Networks
2012 Cupertino Series B $57.4M 4 - - - 22 731k 13k - - -163k -18% - - 4.9k 56%
2.1 Viptela 2012 San Jose Acquired $109M 4 - - - 27 339k 11 - - -166k -33% - - -9851
-
100%
1.7 CloudGenix 2013 Santa Clara Series B $34M - - - - 16 1.1M - - - -112k -10% - - - -
1.3 Bigleaf 2012 Beaverton Series A $6.4M - - - - 4 1.2M 306 - - -752k -39% - - 53 21%
0.8
Mushroom
Networks
2004 San Diego Unfunded - - - - - 3 597k 998 - - -10k -2% - - 1 -
0.4
Multapplied
Networks
2008 Chilliwack Series C - - - - - 3 4M - - - 2M 42% - - - -
0.0 Cosgrid 2016 Chennai Unfunded - - - - - - 10M - - - 11M 160% - - - -

Incubators
Seed Thyra Global (#1), Khosla Ventures (#1)
Series A/B Northgate Capital (#1), Sequoia Capital (#1)
Series C+
None
$10M - Series A
Series A
Airrays (2013, Dresden)
$200k - Seed
Transform-X (2016, Tucson, $1.7M)
$19.5M - Series B
Movandi (2016, Newport Beach,
$28.5M)
$300k - Seed
$7M - Seed
$1.1M - Seed
$17M - Series A
Pivotal Commware (2016, Bellevue,
$17M)
$1.2M - Seed
Smart Antenna Tech (2013,
Birmingham, $2.9M)
$9M - Series A
Movandi (2016, Newport Beach,
$28.5M)
Sep 2017 Sibling startup offers RF for 5G, European Business Press
Sep 2017
Movandi : Brings Innovative RF Front End Technology to
Emerging High Frequency, Millimeter Wave Networks for 5G
and Beyond, 4-Traders
Nov 2017 Taoglas hires chief marketing officer , Financial News
Aug 2017
PARC Spinout Metawave Adds A.I. to Metamaterials for
Autonomous Cars, Xconomy
Nov 2017
Transform-X Acquires Lextrum, Inc. and enables 5G Full-
Duplex wireless, Sector Publishing Intelligence
Jan 2018
Pivotal Commware Announces New Corporate Headquarters
in Kirkland, Washington, Business Wire
Oct 2017
Plasma Antennas Announces mmWave Solution Delivering
Multi-Gigabit Ultra-Low Latency Connections for
Smartphones and Consumer Devices, RealWire
Sep 2017
Thyra Global Management Invests in Metawave,
GlobeNewswire
Jan 2017
Taoglas Secures €633,000 Funding From European Space
Agency, Industry and Business
May 2017
Birmingham technology company expands into Far East,
Birmingham Post
Feb 2017
Blue Danube Systems Announces Industry’s First FDD LTE
Massive MIMO Commercial Trials With Shentel and AT&T,
Business Wire India
Jun 2017
Pivotal Commware Lands $17M Series A From The Thermo
Companies - DIG Investments - Bill Gates and Others, VCA
Online
News
0
1
2
3
4
5
6
7
8
$0k
$10M
$20M
$30M
$40M
$50M
2014 2015 2016 2017 2018
YoY Funding Rounds
-
-
5
10
13
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Radio Access Network (RAN) > Antenna: Market Factsheet
49
Exits
Recent Investments
Companies that provide MIMO
(multi input multi output)
antenna solutions by activating
large number ....
Movandi
(2016, Newport Beach, $28.5M)
Blue Danube Systems
(2006, San Francisco, $23.9M)
Metawave
(2017, Palo Alto, $17M)
Pivotal Commware
(2016, Bellevue, $17M)
Smart Antenna Tech
(2013, Birmingham, $2.9M)
Top Companies
5G Enablers > Market Details > Market: Antenna
Market: Antenna

Radio Access Network (RAN) > Antenna: Top Companies
Market: Antenna
Analyst’s Pick
Cota Capital, Sierra Ventures
Blue Danube Systems (2006, San Francisco,
$23.9M)
Wireless antenna solutions to increase capacity
Northgate Capital, Sequoia Capital, AT&T, Walnut
Venture Associates
Glass Company and 12 Other Investors
Thermo Companies, DIG Investment, Bill Gates and
2 Other Investors
Analyst’s Pick
Smart Antenna Tech (2013, Birmingham,
$2.9M)
Advanced antenna elements and tuning
Editor's Pick. Stage: Seed
University of Birmingham, Senetas, Mercia
Technologies
Plasma Antennas (2000, Winchester)
Semi-custom selectable multi-beam smart antennas
provider
Editor's Pick. Stage: Funded
Oxford Technology
Taoglas (2005, Enniscorthy)
Advanced Antenna and RF Solutions
Editor's Pick. Stage: Funded
European Space Agency, Mindseed

51
Radio Access Network (RAN) > Antenna: Leaderboard
Market: Antenna
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Metawave 2017 Palo Alto Series A $17M - - - 3 4 4.4M 106 - - -1.1M -18% - - 62 131%
4.6 Movandi 2016
Newport
Beach
Series B $28.5M - - - 4 2 5.7M 14 - - -10M -64% - - 7 80%
4.2
Pivotal
Commware
2016 Bellevue Series A $17M - - - 4 4 4.2M 27 - - -4.4M -51% - - 8 39%
3.8 Taoglas 2005
Enniscorth
y
Funded - - - - - 7 451k 813 - - -279k -37% - - 168 26%
3.3
Blue Danube
Systems
2006
San
Francisco
Series B $23.9M - - - - 3 5.2M - - - 155k 3% - - - -
2.9 FreeFall 2016 Tucson Unfunded - - - - 3 - - 15 - - - - - - 23
-
313%
2.5
Smart Antenna
Tech
2013
Birmingha
m
Seed $2.9M - - - - 2 7.4M 169 - - - - - - 2 1%
2.1
Plasma
Antennas
2000 Winchester Funded - - - - 4 3 7.4M 34 - - -539k -7% - - 6 19%
1.7
Antenna
Company
2013 Eindhoven Funded - - - - 4 - 902k - - - - - - - - -
1.3 Transform-X 2016 Tucson Seed $1.7M - - - 3 2 10M - - - 118k 1% - - - -
0.8
Polytenna
Technologies
2016 Saskatoon Unfunded - - - - - - - 20 - - - - - - -1 -5%
0.4
WiSig
Networks
2016 Hyderabad Unfunded - 4 - - 4 - 5.8M - - - -3.3M -36% - - - -
0.0 Airrays 2013 Dresden Series A - - - - - - 8M - - - -5.5M -41% - - - -

Incubators
Seed Greylock Partners (#1), Morgenthaler (#1)
Series A/B Khosla Ventures (#2), Intel Capital (#1)
Series C+ Dell Technologies (#1), Silver Lake (#1)
Contrail Systems Dec - 2012
Acq by Juniper Networks for $176M
$10.1M - Series A
Lumina Networks (2017, San Jose,
$10.1M)
$30.7M - Series D
Big Switch Networks (2010,
Mountain View, $147M)
$20.7M - Series C
$30.7M - Series C
128 Technology (2014, Burlington,
$62.7M)
$1M - Series A
Brain4Net (2015, Moscow, $4.1M)
$1.8M - Series A
$48.5M - Series C
$20M - Series B
128 Technology (2014, Burlington,
$62.7M)
$300k - Seed
Sep 2017
128 Technology Launches Solution Partner Program, PR
Newswire
Aug 2017
Big Switch Momentum Continues with Triple Digit Growth
During Fiscal Year 2017, Fueled By Product Innovation and
Geographic Expansion, Marketwired
Dec 2017
Big Switch Networks Honored as a Glassdoor Employees’
Choice Award Winner, Named One of the Best Places to
Work in 2018, GlobeNewswire
Aug 2017
HPE-Big Switch Partnership Boosts Open Networking Pitch,
SDxCentral
Dec 2017
Big Switch Unveils Multi-Terabit Network Visibility Platform
for 4G/5G LTE Mobile Networks, 4-Traders
Aug 2011
Big Switch Networks’ OpenFlow-Based Controller Goes Into
Beta, Big Switch Networks
Jun 2017 Big Switch Networks Secures $20 Million, NewsCenter
Aug 2017 IOL Certifies Brain4Net's B4N SwitchOS, NFVZone
Apr 2011
OpenFlow Startup Big Switch Raises $13.75M From Index,
Khosla Ventures, TechCrunch
Nov 2017
Big Switch Networks builds on A/NZ presence with partner
program launch, ARN
Jul 2017
Big Switch Networks fuels expansion with USD 30.7 mln
worth of new funds, Telecompaper
Jul 2012
Khosla Ventures Puts $10M into Stealthy Contrail Systems,
Dow Jones
Aug 2017
Pluribus Networks Adds D-Link Systems as an Open
Networking Partner, Business Wire
News
0
1
2
3
4
5
$0k
$20M
$40M
$60M
$80M
$100M
2014 2015 2016 2017 2018
YoY Funding Rounds
1
3
6
10
14
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Core Network > Software Defined Networking (SDN) > Controller: Market Factsheet
52
Exits
Recent Investments
Companies that provide SDN
controller including equipment
and OS
Big Switch Networks
(2010, Mountain View, $147M)
Pluribus Networks
(2010, Palo Alto, $92.5M)
128 Technology
(2014, Burlington, $62.7M)
Lumina Networks
(2017, San Jose, $10.1M)
Contrail Systems
Top Companies
5G Enablers > Market Details > Market: Controller
Market: Controller

Core Network > Software Defined Networking (SDN) > Controller: Top Companies
Market: Controller
Analyst’s Pick
$147M)
Dell Technologies, Silver Lake, Index Ventures and
10 Other Investors
Pluribus Networks (2010, Palo Alto, $92.5M)
Software-defined networks for data centers
Temasek, Ericsson, Newtech Technology and 8
Other Investors
G20 Ventures, The Perkins Fund
Lumina Networks (2017, San Jose, $10.1M)
Open-source SDN controller and other networking
products
Editor's Pick. Stage: Series A
Verizon Ventures, AT&T, Rahi Systems
Analyst’s Pick
SDN and NFV solutions provider
Editor's Pick. Stage: Series A
Leta capital, Rostelecom
Argela Technologies (2004, Maslak)
Networking solutions with focus on 5G enabling
technologies
Sanko

54
Core Network > Software Defined Networking (SDN) > Controller: Leaderboard
Market: Controller
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0
Lumina
Networks
2017 San Jose Series A $10.1M - - - 5 3 1.6M 373 - - 78k 5% - - 257 225%
4.5
Big Switch
Networks
2010
Mountain
View
Series D $147M 5 - - - 22 631k 9.3k - - 126k 25% - - 365 4%
4.1
128
Technology
2014 Burlington Series C $62.7M - - - - 6 1.6M 812 - - 403k 35% - - 36 5%
3.6
Pluribus
Networks
2010 Palo Alto Series D $92.5M 5 - - - 1 1.9M - - - 294k 19% - - - -
3.2
Argela
Technologies
2004 Maslak Acquired - - - - - - 2.4M 675 - - -84k -3% - - 130 24%
2.7 Brain4Net 2015 Moscow Series A $4.1M - - - - 3 10M 138 - - -519k -3% - - -12 -8%
2.3
Contrail
Systems
2012 Santa Clara Acquired $10M - - - - 1 10M - - - - - - - - -
1.8
Luma
Networks
2013 Sydney Funded - - - - - - 10M 28 - - - - - - - -
1.4
Estinet
Technologies
2011 Hsinchu Funded - - - - - - 1.9M - - - -1.3M -40% - - - -
0.9 ATTO Research 2012 Santa Clara Unfunded - - - - - - 3.6M - - - -4.3M -54% - - - -
0.0 Stormvium 2014
San
Francisco
Unfunded - - - - - - 10M - - - - - - - - -
0.0 Pani Networks 2015 Auckland Unfunded - - - - - - 10M - - - - - - - - -

5G Enablers > Market Details > Market: Spectrum Efficiency
Market: Spectrum Efficiency

5G Enablers > Market Details > Market: Network Function Virtualization (NFV)
Market: Network Function Virtualization (NFV)

5G Enablers > Market Details > Market: Mobile Edge Computing (MEC)
Market: Mobile Edge Computing (MEC)

#1 Top Markets of Early Stage Investors
5G Enablers > Market Details > Market: Network Management
Market: Network Management

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
67
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies
69
Performance indicators of public companies in 5G Enablers
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Dec 2015
Megaport (2013, Brisbane)
SDN-based interconnect/connectivity provider
$63M $8.2M ASX:MP1
Jun 2014
Software driven Cloud networking solutions
$18.4B $2.7B $328M 37.02 NYSE:ANET
Jul 2011
xG Technology (2002, Sarasota)
Wireless video/connectivity and radio spectrum sharing solutions
provider
$12.4M $62.8M $6.6M NASDAQ:XGTI
Jan 2011
Pareteum (2001, Barcelona)
SDN and NFV based mobile core network platform provider
$12.9M TEUM
Aug 2007
VMware (1998, Palo Alto)
$10.9B VMW
Jul 2002
ISCO International (1989, Schaumburg)
AMEX:ISO
Jun 1999
Unwired Planet (1994, Redwood City)
Context aware mediation and messaging solutions
$488M GEC
5G Enablers > Exit Outlook > Public Companies

Notable Acquisitions (1/3)
70
Notable Acquisitions in 5G Enablers
5G Enablers > Exit Outlook > Notable Acquisitions
2018 YTD
Acquirer: Hewlett Packard Enterprise
Plexxi (2010, Cambridge, $83.4M)
Affinity networking services
2017
Acquirer: PCCW Global
Console Connect (2011, Santa Clara, $56.6M)
Global software-defined IXP provider
Acquirer: VMware
Acquirer: Cisco Deal: $610M
Acquirer: Corning
SpiderCloud (2007, San Jose, $136M)
Scalable Multi-Access Small Cell Systems
2016
Acquirer: VMware
PLUMgrid (2011, Sunnyvale, $45.9M)
Network virtualization for SDN
Acquirer: CCI
BLiNQ (2010, Plano, $32.5M)
Wireless backhaul solutions provider

71
2015
Acquirer: Cradlepoint
Pertino (2011, Los Gatos, $28.9M)
VPN to the power of the cloud
Acquirer: Ciena
Cyan (2006, Petaluma, $97.5M)
Optical transport equipment and SDN platform
provider
Acquirer: Hewlett-Packard
ConteXtream (2006, Petah Tikva, $23.8M)
Carrier grade SDN solution
Acquirer: Ciena Deal: $488M
Multi-Vendor network management
Acquirer: Cisco
Embrane (2009, Santa Clara, $41M)
Platform for virtual network services
2014
Acquirer: Flash Networks
Mobixell Networks (2000, Raanana, $39M)
Mobile internet optimization solutions
2013
Insieme Networks (2013, California)
Hardware based response to SDN & NFV
Acquirer: NTT communications
Deal: $525M
Virtela Communications (2000, Greenwood
Village, $105M)
Virtual Overlay Network Services
Acquirer: Amdocs Deal: $120M
Actix (1981, London, $76.1M)
Mobile network analytics and optimization
Acquirer: REMEC Broadband Wireless
Networks
BridgeWave (1999, Santa Clara, $42M)
Wireless backhaul and wireless point-to-point
solutions to service providers and enterprises.
Acquirer: Amdocs Deal: $129M
Celcite (2003, Herndon)
SON and network management solutions

72
2013
Intucell (2008, Ra'anana, $8.5M)
Software platform for SON (Self Optimizing
Network)
2012
Acquirer: Juniper Networks Deal: $176M
Controller for SDN
Acquirer: Brocade Communication
Systems
Vyatta (2005, Belmont, $40.6M)
Network virtualization software
Acquirer: VMware Deal: $1.3B
Network Virtualization platform for SDDC
Before 2008
Cognio (2000, Germantown, $24.5M)
Spectrum Intelligence Provider
Acquirer: Access Co
IP Infusion (1999, Sunnyvale, $20.4M)
Network OS, Management and software solutions

Most Active Acquirers
73
5G Enablers > Exit Outlook > Most Active Acquirers

Acqui-hires
74
List of Acqui-hires in 5G Enablers
Excludes all details for Chinese companies
Date Target
Jun-18 Radisys Acq by Reliance Industries
Mar-18 XcellAir Acq by Fon
Jun-16
Active Broadband Networks Acq by
CenturyLink
Feb-16 Reverb Networks Acq by Viavi
Jan-16 Ocedo Acq by Riverbed
May-15
Eden Rock Communications Acq by
Nokia
May-15
REMEC Broadband Wireless Networks
Acq by Moseley Associates
Mar-15
Sub10 Systems Acq by Fastback
Networks
Mar-15
Connectem Acq by Brocade
Communication Systems
Jan-15 Treq Labs Acq by Ribbon
Oct-14 Xceed Technologies Acq by Anite
Jul-14 Xpliant Acq by Cavium
Jul-14 PowerCloud Systems Acq by Comcast
Date Target
Jan-14 Corente Acq by Oracle
May-13
E-Band Communications Acq by Moseley
Associates
Mar-13 Arieso Acq by JDSU
Oct-12 vCider Acq by Cisco
Jul-12 Xsigo Acq by Oracle
Jan-12 Schema Acq by TEOCO
Jan-11 Pareto Networks Acq by Aerohive
Feb-10 Neterion Acq by Exar
Jun-06
Argela Technologies Acq by Turk
Telekom
Mar-03 Telaxis Communications Acq by YDI
5G Enablers > Exit Outlook > Acqui-hires
View all 23 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
75
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

5G Enablers > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in 5G Enablers; Last 5 years (Jul 2013 - Jun 2018)
Index of Most Active VC & PE Investors
SEED STAGE
Maxfield Capital (2 Investments)
Khosla Ventures
Alrai Capital
Autotech Ventures
Motus Ventures
Rising Tide Fund
SoftBank Ventures Korea
TMT Investments
Alpine Meridian
Compound
Double M Partners
Ironfire Ventures
Timark
EARLY STAGE
Sequoia Capital (5 Investments)
Intel Capital (3 Investments)
New Enterprise Associates (2 Investments)
Verizon Ventures (2 Investments)
Mayfield (2 Investments)
Qualcomm Ventures (2 Investments)
Cisco Investments
Andreessen Horowitz
Khosla Ventures
AME Cloud Ventures
Northgate Capital
Venrock
North Bridge
LATE STAGE
Cisco Investments (5 Investments)
AME Cloud Ventures (2 Investments)
Hermes Growth Partners (2 Investments)
Deutsche Telekom Capital Partners (2
Investments)
Northgate Capital
Verizon Ventures
MSD Capital
Redline Capital Management
March Capital Partners
Temasek
The CID Group

Maxfield Capital
78
Portfolio in 5G Enablers | Exits | Funds Link | Website | LinkedIn | Twitter
5G Enablers > Investors > Maxfield Capital
People
Investments
[Editor's Pick] NFWare (2014, Moscow, $2M, Series A)
Virtual network provider for telecom operators
5G Enablers Notable Portfolio
[Soonicorn] Pave (2012, New York City, $313M, Series A)
Online lending platform for personal loans.
[Minicorn] Patients Know Best (2008, Cambridge, $8.1M,
Series B)
Patient Controlled EMR Solution
[Minicorn] Machinio (2012, Chicago, $4M, Series A)
Platform for Used Industrial Machinery
[Minicorn] Iodine (2013, San Francisco, $2.5M, Seed)
Information platform for healthcare products and conditions
[Minicorn] Viisights (2014, Tel Aviv, $1.2M, Seed)
Video analytics software
[Minicorn] Speakingpal (2009, Tel Aviv, $1M, Series A)
Mobile app to improve speaking English
[Editor's Pick] SimplyCook (2012, London, $3.7M, Series A)
Recipe- kit based grocery delivery
[Editor's Pick] Agroptima (2014, Barcelona, $791k, Seed)
Farm management software provider in Spain
[Editor's Pick] Zdravprint (2014, Moscow, $100k, Seed)
3D printed orthoses for forearm and fingers
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Alexander
Turkot
Founder & Managing
Partner
Alexander
Lazarev
Co-Founder & Partner
Geographical Spread Stage of Entry
Mar 2017
NFWare secures $2 million to expand in Europe and US,
East-West Digital News
Oct 2014 Weaved Raises $2.3M in Seed Financing, VC News Daily
Jun 2014
TMT Investments injects $250,000 into ‘Internet of
everything’ startup Weaved, East-West Digital News
Dec 2012
Yoics, Cloud Service Provider for Devices, Closes $1
Million in Funding Led by CrunchFund, PRWeb
None
11 1
2013 2014 2015 2016 2017 2018
Follow On New Investments
-
-
-
-
2
Undisclosed
Series C+
Series B
Series A
Seed1
1
-
-
-
US
Europe

79
5G Enablers > Investors > Lightspeed Venture Partners
People
Investments
[Soonicorn] Barefoot Networks (2013, Palo Alto, $155M,
Series C)
[Soonicorn] Affirmed Networks (2010, Middlesex, $117M,
Series C)
Mobile network virtualization solution
[Soonicorn] Cohere Technologies (2013, Santa Clara, $35M,
Series C)
OTFS based wireless connectivity
[Unicorn] Snapchat (2011, Los Angeles, $2.6B, Public)
Multimedia messaging application
[Unicorn] Guardant Health (2012, Redwood City, $550M, Series
E)
Cancer detection, care and treatment through Digital Sequencing
Technology
[Unicorn] Honest (2011, Santa Monica, $496M, Series F)
Internet-first brand of multi-category products
[Unicorn] Affirm (2012, San Francisco, $450M, Series E)
Online lending platform for purchase financing
[Unicorn] Nutanix (2009, San Jose, $340M, Public)
Converged Compute and storage infrastructure
[Unicorn] Rubrik (2014, Palo Alto, $292M, Series D)
De-duplicated storage based converged data management platform
[Unicorn] Tintri (2008, Mountain View, $260M, Public)
Smart storage for virtualization & cloud
Top Exits
James Mi
Co-Founder &
Managing Director
May 2018
HPE buys Plexxi to expand its hybrid cloud solutions,
TechCrunch
Dec 2017 Plexxi adds key partners in Europe, Financial News
Nov 2017
Plexxi Appoints Denis Vilfort to Vice President of
Marketing, PR Newswire
Aug 2017
Affirmed: Lack of Automation Will Kill Innovation, Light
Reading
Aug 2017
Plexxi Hyperconverged Networking Fabric Integrates
Real-Time Analytics, SDxCentral
Jul 2017
Affirmed Slices Into Network Management, Aims for IPO,
Light Reading
Jul 2017
Affirmed Networks says it can deliver 5G-ready network
slicing today, Fierce Wireless
Feb 2017
Digicel Selects Affirmed Networks as Strategic Partner for
its Global Network Transformation, PR Newswire
Feb 2017
Truphone Virtualizes Network with Affirmed Networks'
Mobile Core and Integrated Wi-Fi Solution, PR Newswire
Feb 2017
Juniper Networks partners with Affirmed Networks and
Netronome to deliver a scalable cloud solution for mobile
subscriber services, ITWeb
Plexxi
(2010, Cambridge, $83.4M)
Acq by Hewlett Packard
Enterprise - May 2018
Nicira
(2007, Palo Alto, $43.4M)
Acq by VMware - Jul 2012
Embrane
Acq by Cisco - Apr 2015
Pertino
(2011, Los Gatos, $28.9M)
Acq by Cradlepoint - Dec 2015
2 2
1 1
1
1
2013 2014 2015 2016 2017 2018
-
2
3
1
1
Undisclosed
Series C+
Series B
Series A
Seed7
-
-
-
-
US

Khosla Ventures
80
5G Enablers > Investors > Khosla Ventures
People
Investments
[Soonicorn] Big Switch Networks (2010, Mountain View,
$147M, Series D)
[Soonicorn] Kumu Networks (2011, Sunnyvale, $45.4M, Series
C)
Spectrum efficiency using full-duplex technology
[Minicorn] Metawave (2017, Palo Alto, $17M, Series A)
[Unicorn] Katerra (2015, Menlo Park, $1.1B, Series D)
End-to-end construction services
[Unicorn] Instacart (2012, San Francisco, $1B, Series E)
Marketplace for same-day grocery delivery
[Unicorn] Oscar (2012, New York City, $893M, Series B)
Internet-first health insurance provider
[Unicorn] DoorDash (2013, Palo Alto, $722M, Series D)
On-demand food delivery marketplace
[Unicorn] View (2007, Milpitas, $646M, Series G)
Smart window glass for buildings
[Unicorn] Opendoor (2014, San Francisco, $646M, Series E)
Residential re-selling solution provider.
[Unicorn] Zenefits (2013, San Francisco, $584M, Series C)
SaaS HR Platform for SMBs
[Unicorn] Guardant Health (2012, Redwood City, $550M, Series
E)
Cancer detection, care and treatment through Digital Sequencing
Technology
Top Exits
Vinod Khosla
Founder & Partner
Dec 2017
Big Switch's Big Mon Keeps an Eye on Mobile Subs,
SDxCentral
Dec 2017
Big Switch Networks Honored as a Glassdoor Employees’
Choice Award Winner, Named One of the Best Places to
Work in 2018, GlobeNewswire
Dec 2017
Big Switch Unveils Multi-Terabit Network Visibility
Platform for 4G/5G LTE Mobile Networks, 4-Traders
Nov 2017
Big Switch Networks builds on A/NZ presence with
partner program launch, ARN
Aug 2017
Big Switch Momentum Continues with Triple Digit
Growth During Fiscal Year 2017, Fueled By Product
Innovation and Geographic Expansion, Marketwired
Aug 2017
HPE-Big Switch Partnership Boosts Open Networking
Pitch, SDxCentral
Jul 2017
Big Switch Networks fuels expansion with USD 30.7 mln
worth of new funds, Telecompaper
Jul 2017
Big Switch Networks Positioned in the Visionaries
Quadrant of the Gartner Magic Quadrant for Data Center
Networking, Marketwired
Jun 2017 Big Switch Networks Secures $20 Million, NewsCenter
Contrail Systems
Acq by Juniper Networks - Dec
2012
Arista
(2005, Santa Clara)
IPO - Jun 2014
2
1 11
1
2013 2014 2015 2016 2017 2018
1
-
1
3
1
Undisclosed
Series C+
Series B
Series A
Seed6
-
-
-
-
US

Alrai Capital
81
5G Enablers > Investors > Alrai Capital

Autotech Ventures
82
5G Enablers > Investors > Autotech Ventures

83
5G Enablers > Investors > Bold Capital Partners

Motus Ventures
84
5G Enablers > Investors > Motus Ventures

Rising Tide Fund
85
5G Enablers > Investors > Rising Tide Fund

SoftBank Ventures Korea
86
5G Enablers > Investors > SoftBank Ventures Korea

TMT Investments
87
5G Enablers > Investors > TMT Investments

Alpine Meridian
88
5G Enablers > Investors > Alpine Meridian

Compound
89
5G Enablers > Investors > Compound

Double M Partners
90
5G Enablers > Investors > Double M Partners

Ironfire Ventures
91
5G Enablers > Investors > Ironfire Ventures

Timark
92
5G Enablers > Investors > Timark

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
93
Seed Stage
Early Stage
Late Stage

Sequoia Capital
94
5G Enablers > Investors > Sequoia Capital

Intel Capital
95
5G Enablers > Investors > Intel Capital

96
5G Enablers > Investors > New Enterprise Associates

Verizon Ventures
97
5G Enablers > Investors > Verizon Ventures

Mayfield
98
5G Enablers > Investors > Mayfield

Qualcomm Ventures
99
5G Enablers > Investors > Qualcomm Ventures

Cisco Investments
100
5G Enablers > Investors > Cisco Investments

Andreessen Horowitz
101
5G Enablers > Investors > Andreessen Horowitz

Khosla Ventures
102
5G Enablers > Investors > Khosla Ventures

AME Cloud Ventures
103
5G Enablers > Investors > AME Cloud Ventures

Northgate Capital
104
5G Enablers > Investors > Northgate Capital

105
5G Enablers > Investors > Third Point Ventures

Venrock
106
5G Enablers > Investors > Venrock

107
5G Enablers > Investors > Bessemer Venture Partners

North Bridge
108
5G Enablers > Investors > North Bridge

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
109
Seed Stage
Early Stage
Late Stage

Cisco Investments
110
5G Enablers > Investors > Cisco Investments

AME Cloud Ventures
111
5G Enablers > Investors > AME Cloud Ventures

Hermes Growth Partners
112
5G Enablers > Investors > Hermes Growth Partners

Deutsche Telekom Capital Partners
113
5G Enablers > Investors > Deutsche Telekom Capital Partners

114
5G Enablers > Investors > New Enterprise Associates

115
5G Enablers > Investors > Lightspeed Venture Partners

Northgate Capital
116
5G Enablers > Investors > Northgate Capital

Verizon Ventures
117
5G Enablers > Investors > Verizon Ventures

118
5G Enablers > Investors > Third Point Ventures

MSD Capital
119
5G Enablers > Investors > MSD Capital

120
5G Enablers > Investors > Bessemer Venture Partners

Redline Capital Management
121
5G Enablers > Investors > Redline Capital Management

March Capital Partners
122
5G Enablers > Investors > March Capital Partners

Temasek
123
5G Enablers > Investors > Temasek

The CID Group
124
5G Enablers > Investors > The CID Group

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
125
Incubators
Other Notable Investors
Debt Investors

5G Enablers > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in 5G Enablers; Q2 2013 - Q2 2018
Index of Ecosystem Investors
INCUBATOR
Magma Venture Partners (2 Investments)
Alchemist Accelerator
Jerusalem Venture Partners
Portland Seed Fund
Startupbootcamp
OTHER NOTABLE INVESTORS
AT&T (2 Investments)
BDC (2 Investments)
Fujitsu (2 Investments)
Swisscom (2 Investments)
Technology Crossover Ventures (2
Investments)
Telecom Infra Project (2 Investments)
Deutsche Telekom (2 Investments)
Telstra Global (2 Investments)
21vianet
Accton Technology
AGC Glass Company
Akamai
Alibaba
Alliance of Angels
American Tower
DEBT INVESTORS
Western Technology Investment (4
Investments)
Hercules Capital
Mercia Technologies

Tracxn - 5G Enablers Startup Landscape

Tracxn - 5G Enablers Startup Landscape

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