Mobile Edge Computing Pioneer Saguna Networks Secures $5 Million in Funding Round Led by CE Ventures

23 May, 2016, 08:00 ET from Saguna

YOKNEAM, Israel, May 23, 2016 /PRNewswire/ --

Saguna Networks, the Mobile Edge Computing (MEC) pioneer making mobile broadband faster, simpler and more agile, announced today that it closed a new $5 million financing round led by CE Ventures and supported by the company's existing shareholders. Saguna will use the funding to expand the company's MEC offering and global market presence.

Saguna helps mobile operators improve user experience, network economics and monetization by bringing distributed cloud-computing into the Radio Access Network (RAN); as close as possible to mobile users. With Saguna's solution, mobile operators can deploy new revenue generating services for content delivery, Internet of Things (IoT), retail and enterprise applications.

The Company's standard-based MEC solution, Saguna Open-RAN, creates an open ecosystem and growth engine inside the RAN. The solution features fully-virtualized, scalable architecture adding value to 4G networks, 5G and HetNets.

"Saguna's Mobile Edge Computing leadership and advanced offering is well aligned with the pressing needs of mobile network operators worldwide," said Tayman Kan, Managing Partner of CE Ventures. "We are excited to support the Saguna team in pursuing new opportunities in Tactile Internet, Internet of Things and content delivery over existing 4G and new 5G networks. Innovative technologies like MEC will play an increasingly important role for mobile operators".

"As an industry, we are just beginning to realize the power of cloud-computing deployed at the radio edge of mobile networks with the growth of Mobile Edge Computing," said Lior Fite, CEO of Saguna Networks. "In the past 2 years, Saguna established a wide MEC ecosystem by partnering with market leaders including Akamai, CloudFlare, AMD, ADLINK, Juniper and Brocade.  This round of funding will enable us to accelerate the execution our vision and expand our partner ecosystem."

About CE Ventures

CE Ventures was established in 2015 to focus on investments in private technology companies located in Israel and the United States.  It considers opportunities across a broad spectrum of industries, including technology, media, telecommunications and digital health and invests in a mixture of early and later-stage opportunities.    CE Ventures is headquartered in Hong Kong and is supported by clients of CreditEase, a national leader in wealth management and microfinance with a network of close to 50,000 employees across more than 100 cities in China.  CreditEase is a private company, with a range of international institutional investors, including Morgan Stanley Private Equity Asia, Kleiner Perkins Caufield & Byers and IDG Capital Partners. For more information, please visit our website at http://www.cev.vc.

About Saguna

Saguna Networks Saguna, a pioneer of Mobile Edge Computing (MEC), makes mobile broadband faster, simpler and more economical with smart NFV software solutions. Based on the ETSI MEC standard, the Saguna Open-RAN platform enables mobile operators to quickly and effectively deploy new revenue generating services. The Mobile Edge Computing platform has fully virtualized software architecture providing cost effective scalability and flexibility. For more information, please contact info@saguna.net, follow us @sagunanet or visit http://www.saguna.net.

Contact:
Tally Netzer
Marketing Director, Saguna
+972-4-675-3700
tally@saguna.net

SOURCE Saguna