OVP backs Boise's CradlePoint |
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OVP backs Boise's CradlePoint
CradlePoint's wireless router
OVP Venture Partners has led a $7.5 million venture round in CradlePoint Technology, a Boise company developing 4G and 3G wireless routers. Highway 12 Ventures also participated in the deal. OVP's Gerry Langeler is joining the board. The CradlePoint routers are used in home, business and retail environments. The routers deliver Wi-Fi service via broadband networks, turning a single broadband data modem into a shareable WiFi connection.
"Wherever there is cell phone coverage, on vacation or remote work site, CradlePoint products plus a mobile broadband data modem give WiFi devices a reliable, secure connection to the internet," the company writes on its Web site.
That sounds a bit like the Rover Puck service, a mobile hotspot which Clearwire recently introduced. [Update: I just heard back from the folks at CradlePoint and they tell me that they are the provider of the Rover Puck to Clearwire]. As a result of the investment, Gerry Langeler of OVP has joined the board of the 6-year-old company.
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