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Page 1: Tracxn - 5G Enablers Startup Landscape

DECEMBER 2017

5G ENABLERS

Page 2: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Contents

Feed Summary

Investment Trends

Market Details

Exit Outlook

Investors

News

Appendix

2

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Page 3: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

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

Page 4: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on December 28, 2017.

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, MEC), and solutions that enable faster deployment and centralized control (SDN, NFV) of the network. 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. Also excludes large OEMs like Ericsson, Nokia Networks, Cisco etc which are adding these technologies in their product portfolio

• Excludes funding information of Chinese companies

Feed in Numbers

Overview

$3.6BFunding

15Mega Companies

136181FundedCovered on

Tracxn

1Unicorns

22Soonicorns

12Minicorns

7IPO’d Cos

89Late Stage Cos

34

18Acquisitions

3DeadPooled

17Acquihired

Series A+ CosAltiostar

(2011, Tewksbury, $199M)

Barefoot Networks(2013, Palo Alto, $155M)

Nicira(2007, Palo Alto, 43.4M)

Top Companies

Page 5: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Investment Trend SummarySummary of Funding Activity in 5G Enablers

5

$75M - Series CViptela (2012, San Jose, $109M)

$35M - Series CCumulus Networks (2009, Mountain View,

$86M)

$57M - Series CBarefoot Networks (2013, Palo Alto, $155M)

$35M - Series DVeloCloud (2012, Mountain View, $48M)

$48.5M - Series CBig Switch Networks (2010, Mountain View,

$147M)

$30.7M - Series DBig Switch Networks (2010, Mountain View,

$147M)

$43M - Series BVersa Networks (2012, Cupertino, $57M)

$30M - Series EAltiostar (2011, Tewksbury, $199M)

$42M - Series BFederated Wireless (2013, Arlington, $69M)

$28M - Series CDispersive Technologies (2012, Alpharetta,

$42M)

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), New Enterprise Associates(#3)

Series C+Cisco Investments (#4), AME Cloud Ventures (#2), Bessemer Venture Partners (#2)

IncubatorsMagma Venture Partners (#2) Alchemist Accelerator (#1)

Jerusalem Venture Partners (#1)

Corporate Investors BDC Capital (#2), Fujitsu (#2), Swisscom (#2)

Debt Investors Western Technology Investment (#4)

Most Active InvestorsRecent Investments

22

18

15

11 10

4

2012 2013 2014 2015 2016 2017*Y-o-Y # of Companies Founded 27 34 27 37 30 26

$270M $288M$247M

$529M$481M

$248M

2012 2013 2014 2015 2016 2017*

$ Funding # Rounds$3.1B

$299M

$114M

$44M

$29.7M

US

Israel

Europe

Japan

Canada

$ Funding

Page 6: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Summary of exit outlook in 5G Enablers

Exit Outlook Summary

66

Most Active AcquirersTop Investors in ExitsAzure Capital Partners

2VMware (1998, Palo Alto, $388M)

Blue Planet (2006, Hanover, $97.6M)

Juniper Networks

2Virtela Communications (2000, Greenwood Village, $105M)

Blue Planet (2006, Hanover, $97.6M)

New Enterprise Associates

2Virtela Communications (2000, Greenwood Village, $105M)

Nicira (2007, Palo Alto, $43.4M)

Norwest Venture Partners

2Virtela Communications (2000, Greenwood Village, $105M)

Blue Planet (2006, Hanover, $97.6M)

Khosla Ventures

2Contrail Systems (2012, Santa Clara, $10M)

Arista (2005, Santa Clara)

Aug 2017 Viptela Acq by Cisco for $610M

Aug 2015 Blue Planet Acq by Ciena for $488M

Nov 2013 Insieme Networks Acq by Cisco for $863M

Oct 2013Virtela Communications Acq by NTT communications for $525M

Feb 2013 Intucell Acq by Cisco for $475M

Jul 2007 Nicira Acq by VMware for $1.26B

5G Enablers > Feed Summary > Exit Outlook Summary

Cisco 6Insieme Networks (Nov 2013, $863M), Viptela (Aug

2017, $610M), Intucell (Feb 2013, $475M)

VMware 3Nicira (Jul 2012, $1.3B), PLUMgrid (Dec 2016),

VeloCloud (Nov 2017)

Ciena 2 Blue Planet (Aug 2015, $488M), Cyan (Aug 2015)

Hewlett-

Packard1 ConteXtream (May 2015)

Juniper

Networks1 Contrail Systems (Dec 2012, $176M)

Recent IPOs Top Acquisitions

ISCO International Jul 2002Spectrum conditioning solutions providerIPO MCap: - Current MCap: $10.5M

Radisys Oct 1995Wireless infrastructure solutionsIPO MCap: - Current MCap:$42.67M

Unwired PlanetContext aware mediation and messaging sol…IPO MCap: - $488M Current MCap:$101.72M

Arista Jun 2014Software driven Cloud networking solution…IPO MCap: $2.7B Current MCap: $16.6B

xG Technology Jul 2011Radio technology enabling Spectrum sharin…IPO MCap: $62.8M Current MCap: $22.8M

Pareteum Jan 2011SDN and NFV based mobile core network pla…IPO MCap: - Current MCap: -

VMware Aug 2007Virtualization SoftwareIPO MCap: - $10.9B Current MCap: $51.18B

Page 7: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Marketmap: 5G Enablers

Overview

Companies 181

Funded 136 Series A+ 89

Funding $3.6B Last 2 yrs $1.4B

Most Active Investors

Seed Maxfield Capital (2)

Early Stage Sequoia Capital (5)

Late Stage Cisco Inv (4)

Corporate Swisscom (2)

Incubators Magma VP (2)

FACTSHEET

Top Cities

Bay Area 55 Cos $2.0B

Tewksbury 1 Cos $199M

Feed in Numbers

Unicorns 1 Soonicorns 22

Minicorns 12 Editor Picks 44

Acquihired 17 Deadpooled 3

Top Companies

Nicira (2007 , Palo Alto, Acq)

Altiostar (2011, Tewksbury, $199M)

Barefoot (2013, Palo Alto, $155M)

Intucell (2008, Ra’anana, Acq)

Exits

IPOs 7 Arista, Pareteum

Acquisitions 18 Nicira, Insieme Networks

Top Acquirers Cisco, VMware

RADIO ACCESS NETWORK

SPECTRUM EFFICIENCY

CLOUD RAN (C-RAN)

SELF-ORGANIZED NETWORK (SON)

MOBILE EDGE COMPUTING (MEC)*

ANTENNA*

CORE NETWORK

SOFTWARE DEFINED NETWORKING (SDN)

NETWORK FUNCTION VIRTUALIZATION (NFV)

SD-WAN

CONTROLLER

SWITCH

NETWORK MANAGEMENT

NETWORK-AS-A-SERVICE

OPERATING SYSTEM

INTERNET EXCHANGE POINT*

* Denotes Upcoming Business Models in 5G Enablers market

7

Page 8: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

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

Radio Access Network (RAN) >

Spectrum Efficiency 21 $124M 9

Core Network > Software Defined

Networking (SDN) >

Controller16 $126M 7

Core Network > Software Defined

Networking (SDN) >

SD-WAN12 $169M 6

Radio Access Network (RAN) >

Mobile Edge Computing (MEC) 10 $30.9M 6

Core Network >

Network Function Virtualization (NFV)

22 $36.2M 3

Sub Sectors# Cos

Tracked#

FundedTotal

Funding

Core NetworkCompanies that provide solutions for Software Defined Networking (SDN) and virtualization...

110 80 $2.5B

Radio Access Network (RAN)Companies that provide solutions which enable self-organization, improve spectrum efficiency...

71 56 $1.1B

5G Enablers > Feed Summary > Summary of Key Markets

Page 9: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

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

Arista(2005, Santa Clara)*

xG Technology(2002, Sarasota)

VMware(1998, Palo Alto, $388M)

Unwired Planet(1994, Redwood City, $33M)

Pareteum(2001, Barcelona)

Radisys(1987, Hillsboro, $18M)

ISCO International(1989, Schaumburg)

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)

Actix(1981, London, $76.1M)

Page 11: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

List of Notable Companies by Market in 5G Enablers

Notable Companies by Market (1/5)

11

5G Enablers > Feed Summary > Notable Companies by Market

Radio Access Network (RAN)

Self-Organized Network (SON)

Actix (1981, London, $76.1M)Mobile network analytics and optimizationStage: Acquired

Summit Partners

Intucell (2008, Ra'anana, $8.5M)Software platform for SON (Self Optimizing Network). Stage: Acquired

Bessemer Venture Partners, Genesis Partners

Mobile Edge Computing (MEC)

Qwilt (2010, Hod Hasharon, $65.1M)Open caching and video delivery platform at mobile edgeSoonicorn. 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 edgeSoonicorn. Stage: Series C

New Venture Partners, Bessemer Venture Partners, NexStar Partners and 1 Other Investors

Cloud RAN (C-RAN)

Altiostar (2011, Tewksbury, $199M)Virtualized RAN & NFV solutions providerSoonicorn. Stage: Series E

Cisco Investments

SpiderCloud (2007, San Jose, $136M)Scalable Multi-Access Small Cell SystemsSoonicorn. Stage: Acquired

Charles River Ventures, Matrix Partners, Opus Capital and 3 Other Investors

Page 12: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

List of Notable Companies by Market in 5G Enablers

Notable Companies by Market (2/5)

12

5G Enablers > Feed Summary > Notable Companies by Market

Radio Access Network (RAN)

Spectrum Efficiency

Federated Wireless (2013, Arlington, $69M)Saas based spectrum efficiency solutions providerSoonicorn. Stage: Series B

Charter Communications, American Tower, ARRIS and 3 Other Investors

Kumu Networks (2011, Sunnyvale, $45.4M)Spectrum efficiency using full-duplex technologySoonicorn. Stage: Series C

Verizon Ventures, Deutsche Telekom, New Enterprise Associates and 7 Other Investors

Cohere Technologies (2013, Santa Clara, $35M)OTFS based wireless connectivitySoonicorn. Stage: Series C

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 solutionsStage: Public

ABN AMRO Bank, Qualcomm Ventures, Bell Canada and 7 Other Investors

Flash Networks (1996, Herzliya, $32.2M)Internet optimization and monetization solutions. Soonicorn. Stage: Series C

Viola Group, The Challenge Fund-Etgar, Evergreen Venture Partners and 15 Other Investors

Radisys (1987, Hillsboro, $18M)Wireless infrastructure solutionsStage: Public

Saints Capital

ISCO International (1989, Schaumburg)Spectrum conditioning solutions providerStage: Public

ARCH Venture Partners, Batterson Venture Capital

Spectrum Efficiency

xG Technology (2002, Sarasota)Radio technology enabling Spectrum sharingStage: Public

Blooston, Mordkofsky, Dicken and 1 Other Investors

Page 13: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

List of Notable Companies by Market in 5G Enablers

Notable Companies by Market (3/5)

13

5G Enablers > Feed Summary > Notable Companies by Market

Core Network

Software Defined Networking (SDN)

Barefoot Networks (2013, Palo Alto, $155M)High-speed programmable switchesSoonicorn. Stage: Series C

Tencent, Alibaba, Goldman Sachs and 8 Other Investors

Big Switch Networks (2010, Mountain View, $147M)Software Defined Network Control FabricSoonicorn. Stage: Series D

Dell Technologies, Silver Lake, Index Ventures and 10 Other Investors

Viptela (2012, San Jose, $109M)Providing Secure Extensible NetworksEditor's Pick. Stage: Acquired

Sequoia Capital, Redline Capital Management, Northgate Capital and 1 Other Investors

Software Defined Networking (SDN)

Virtela Communications (2000, Greenwood Village, $105M)Virtual Overlay Network ServicesEditor's Pick. Stage: Acquired

Norwest Venture Partners, New Enterprise Associates, Palomar Ventures and 4 Other Investors

Blue Planet (2006, Hanover, $97.6M)Multi-Vendor network managementStage: Acquired

Azure Capital Partners, Norwest Venture Partners, Tenaya Capital and 5 Other Investors

Pluribus Networks (2010, Palo Alto, $92.5M)Network virtualizationSoonicorn. Stage: Series D

Temasek, Ericsson, Newtech Technology and 8 Other Investors

Antenna

Metawave (2017, Palo Alto, $7M)Smart radar and 5G antenna systems provider.Stage: Seed

Thyra Global, Khosla Ventures, Motus Ventures and 6 other investors

Movandi (2016, Newport Beach, $9M)5G antenna solutions with beamforming technologyStage: Series A

Sierra Ventures

Pivotal Commware (2016, Bellevue, $17M)Software-defined antenna provider.Stage: Series A

Bill Gates, Barry Sternlicht

Radio Access Network (RAN)

Page 14: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

List of Notable Companies by Market in 5G Enablers

Notable Companies by Market (4/5)

14

5G Enablers > Feed Summary > Notable Companies by Market

Core Network

Software Defined Networking (SDN)

Versa Networks (2012, Cupertino, $57.4M)SD-WAN and SD-Security solutions based on NFVSoonicorn. Stage: Series B

Verizon Ventures, Sequoia Capital, Mayfield and 2 Other Investors

Luminate Wireless (2013, Cupertino, $48M)Cloud-enabled Mobile Network ConnectionSoonicorn. Stage: Series B

Sequoia Capital, New Enterprise Associates, Qualcomm and 4 Other Investors

VeloCloud (2012, Mountain View, $48M)Cloud Based WAN OptimizationSoonicorn. Stage: Acquired

Hermes Growth Partners, Khazanah Nasional, New Enterprise Associates and 7 Other Investors

Software Defined Networking (SDN)

Talari (2004, San Jose, $45.3M)Creating WAN by aggregation of private connectionsSoonicorn. Stage: Series D

Square 1 Bank, Menlo Ventures, Silver Creek Ventures and 2 Other Investors

Cenx (2009, Jersey City, $27M)Lifecycle Service Orchestration (LSO) for SDN & NFVSoonicorn. Stage: Series D

Mistral Ventures, VMware, Highland Capital Partners and 7 Other Investors

Pareteum (2001, Barcelona)SDN and NFV based mobile core network platform providerStage: Public

QAT Investments, Saffelberg

Software Defined Networking (SDN)

Cumulus Networks (2009, Mountain View, $86M)Linux operating system for networking hardwareSoonicorn. Stage: Series C

Andreessen Horowitz, Battery Ventures, Sequoia Capital and 3 Other Investors

Plexxi (2010, Cambridge, $83.4M)Affinity networking servicesSoonicorn. Stage: Series D

GV, Lightspeed Venture Partners, Matrix Partners and 2 Other Investors

Console Connect (2011, Santa Clara, $65M)Global software-defined IXP providerSoonicorn. Stage: Series B

Formation 8, New Enterprise Associates, AME Cloud Ventures and 6 Other Investors

Page 15: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

List of Notable Companies by Market in 5G Enablers

Notable Companies by Market (5/5)

15

5G Enablers > Feed Summary > Notable Companies by Market

Core Network

Network Function Virtualization (NFV)

VMware (1998, Palo Alto, $388M)Virtualization SoftwareStage: Public

Cisco, Intel Capital, Dell and 2 Other Investors

Affirmed Networks (2010, Middlesex, $117M)Mobile network virtualization solutionSoonicorn. Stage: Series C

Bessemer Venture Partners, Charles River Ventures, Matrix Partners and 3 Other Investors

Midokura (2010, Tokyo, $44M)Network Virtualization leveraging existing physical infrastructureSoonicorn. Stage: Series B

Simplex, Innovation Network Corporation of Japan, Fujitsu and 4 Other Investors

Nicira (2007, Palo Alto, $43.4M)Network Virtualization platform for SDDCUnicorn. Stage: Acquired

Lightspeed Venture Partners, New Enterprise Associates, Andreessen Horowitz

Software Defined Networking (SDN)

Contrail Systems (2012, Santa Clara, $10M)Controller for SDNStage: Acquired

Khosla Ventures

Multapplied Networks (2008, Chilliwack)Bonded internet and white-label platform to deploy SD-WANSoonicorn. Stage: Series C

Madison Partners

Arista (2005, Santa Clara)Software driven Cloud networking solutionsStage: Public

SAW Capital Partners, Redpoint Ventures, Greylock Partners and 8 Other Investors

Insieme Networks (2013, California)Hardware based response to SDN & NFVStage: Acquired

Page 16: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Recent News in 5G Enablers Sector

Recent News

16

5G Enablers > Feed Summary > Recent News

Dec 2017xG Technology’s IMT Vislink Business Completes Delivery of First Order Against $12.5 Million U.S., PR Newswire

Dec 2017 Businesses Go on Pre-Holiday Cloud Acquisition Spree , DarkReading

Dec 2017SD-WAN Vendor TELoIP Names Former AT&T Exec as CEO, SDxCentral

Dec 2017Victory Square to Acquire 20% of Multapplied Networks Software Defined Wide Area Networking (SD-WAN) Blockchain Company, GlobeNewswire

Dec 2017P.I. Works and Turkcell Won the "Leading Contribution to SON” Award at 2017 Self Organizing Networks World, London, Business Wire

Dec 2017Bill Gates backs startup to bring holographic beamforming, European Business Press

Dec 2017Cisco Integrates Viptela SD-WAN Tech on Existing Routers, SDxCentral

Dec 2017Silver Peak Earns 2017 Internet Telephony Channel Program Excellence Award, Business Wire

Dec 2017VMware : Named a Leader in the IDC MarketScape for Enterprise Mobility Management Software for Ruggedized/IoT Device Deployments, 4-Traders

Dec 2017 VMware Wraps VeloCloud Purchase, Channel Partners Online

Dec 2017GenXComm Secures $7 Million Series A Investment Round Led by Intel Capital, Citybizlist

Key Recent News Key Recent News

Dec 2017CENX Named in 2017 Deloitte Technology Fast 500 List, PR

Newswire

Dec 2017New Global Research Reveals Keys to Unlocking Successful Multi-Cloud Adoption, Marketwired

Dec 2017Versa Networks Named a Winner of the 2017 INTERNET TELEPHONY Channel Program Excellence Award, 4-Traders

Dec 2017 Big Switch's Big Mon Keeps an Eye on Mobile Subs, SDxCentral

Dec 2017Taoglas Opens Office in Shenzhen to Meet Growing Demand in Asia-Pacific Region, Business Wire

Dec 2017 T. Rowe Price discloses VMware stake, Seeking Alpha

Dec 2017CORRECTING and REPLACING VeloCloud Expands Integration of Cloud-Delivered SD-WAN to Amazon Web Services, Business Wire

Dec 2017VMware : and Carbon Black Fundamentally Transform Current Approaches to Data Center and Cloud Security, 4-Traders

Dec 2017Vmware ‘no-brainer’ integrates vRealize Suite & Cloud Foundation to ease hybrid migration woes, CBROnline

Dec 2017White Paper Released on Beamforming Technologies Designed to Enhance 4G and 5G Network Capacities, Business Wire

Dec 2017Metrobank Card Corp. taps VMware for digital transformation, Newsbytes

Page 17: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Contents

Feed Summary

Investment Trends

Market Details

Exit Outlook

Investors

News

Appendix

17

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

Page 19: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

$111M

$339M

$270M$288M

$247M

$529M

$481M

$248M

0

5

10

15

20

25

30

35

40

$0k

$100M

$200M

$300M

$400M

$500M

$600M

2010 2011 2012 2013 2014 2015 2016 2017*

$ Funding # Rounds

3 Year CAGR

6 Year CAGR

Investments ($M) and number of rounds in 5G Enablers; 2010-2016

Global Funding Trends (1/2)

19

Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies

*YTD

5G Enablers > Investment Trends > Global Funding Trends

# R

ou

nd

s$

Fu

nd

ing

28% $ Funding

19% $ Funding

7% # of Rounds

4% # of Rounds

Page 20: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

6 7 9 8 7 10 6 10

11

17

15 21

18 18

11

9

3 10 3 5 2 9 13 7

2010 2011 2012 2013 2014 2015 2016 2017 YTD

Seed Early Stage Late Stage

20

26

Total # of Rounds

$4M $3M $8M $6M $3M $8M $5M $16M

$91M

$158M

$185M

$150M

$215M

$277M$109M

$94M

$15M $177M $78M $132M $29M $245M $366M $138M

2010 2011 2012 2013 2014 2015 2016 2017 YTD

Seed Early Stage Late Stage

$25M

$163M $155M$121M $115M

$381M$411M

$177M

0

2

4

6

8

10

12

14

0

50000000

100000000

150000000

200000000

250000000

300000000

350000000

400000000

450000000

2010 2011 2012 2013 2014 2015 2016 2017 YTD

$ Funding # of Rounds

20

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; 2010-2016

5G Enablers > Investment Trends > Global Funding Trends

9

12

12

15

8

13

7 76

$3.1M $4.9M

$0.0M

$1.0M

$2.0M

$3.0M

$4.0M

$5.0M

$6.0M

$7.0M

$8.0M

$9.0M

0

10

20

30

40

50

60

70

80

2001-2010 2011 2012 2013 2014 2015 2016 Total

Entrants in Funding Club Avg. Ticket Size

1 6 5 3 4 10 12 6 $3.1M $5.9M $6M $2.6M $8.1M $4.5M $3.9M $4.9M

$111M

$248M

Total $ Invested

Page 21: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 201721

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 2B 121

Tewksbury 199M 7

Middlesex 117M 5

Hanover 97.6M 6

Cambridge 86.5M 8

Burlington 85.4M 6

London 76.1M 1

Arlington 69M 3

Hod Hasharon 65.1M 4

Greenwood Village

64.5M 5

Total Funding

74

37

25

4

9

3

# Rounds

$3.1B

$299M

$114M

$44M

$29.7M

$3.1M

US

Israel

Europe

Japan

Canada

India

Note: Excludes funding information of China companies

Page 22: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 201722

Trend of Average Deal Size ($M)

$1.1$0.8

$1.3 $1.0$0.8

$1.0 $1.3

2010 2011 2012 2013 2014 2015 2016

$5.8 $7.3$9.7

$6.3$8.2 $7.5 $6.6

$12.5 $13.2

$21.9

$9.9

$19.0

$27.1

$15.6

$7.6

$19.7$26.0

$33.0

$14.5

$35.0 $33.3

5G Enablers > Investment Trends > Median Deal Size and Trend

Median and Average Deal Size in $M (per Stage) in 5G Enablers; 2010-2016

Median Deal Size and Trend

Note: Excludes funding information of Chinese companies. *Graph not to scale

Median Deal Size and Range

$5K* $11M

$50K $31M

$92K $80M

$50K $1B

$22M

$7M

$2.8M

$0.3M

Series C+

Series B

Series A

Seed

Stage

Page 23: Tracxn - 5G Enablers Startup Landscape

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Note: 31 companies with undisclosed funding amount are not included

23

<$1M

$1-10M

$10-50M

$50-100M

$100M+

Funding Range

9

33

44

12

8

No. of Companies

5G Enablers > Investment Trends > Distribution of companies by Funding Range

No. of companies by funding range in 5G Enablers; as of Dec 2017

Distribution of companies by Funding Range

$5M

$152M

$1.2B

$910M

$1.4B

$ Investment

Page 24: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

Stage No. of CompaniesFunding Funnel

100%

75%

49%

33%

19%

24

Note: Numbers in the brackets show the count of companies

Time to raise next round

34

59

89

136

181

Series C+

Series B

Series A

Funded

Founded

Next Round

100M+Valuation

ExitsAcqui-Hired

DeadPooled

Others

75% 19%(35)

8%(15)

15%(27)

2%(3)

8%(15)

65% 26%(35)

11%(15)

18%(25)

2%(3)

14%(19)

66% 33%(29)

10%(9)

19%(17)

3%(3)

11%(10)

58% 46%(27)

12%(7)

22%(13)

2%(1)

19%(11)

- 62%(21)

18%(6)

21%(7)

- 26%(9)

5G Enablers > Investment Trends > Funding Funnel

Number of companies progressing to subsequent funding stages in 5G Enablers

Funding Funnel

15 Months

19 Months

22 Months

Investment backedBootstrapped

22

1

8

7

Soonicorns

Unicorns

Acquisitions

IPOs

Page 25: Tracxn - 5G Enablers Startup Landscape

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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; Dec 2015-Dec 2017

Notable Investments in last 24 months (1/3)

LATE STAGE

$75M - Series C May 2016Viptela (2012, San Jose, $109M)Providing Secure Extensible Networks

Redline Capital Management

$57M - Series C Jun 2016Barefoot Networks (2013, Palo Alto, $155M)High-speed programmable switches

Hewlett Packard Ventures, Hermes Growth Partners

$48.5M - Series C Jan 2016Big Switch Networks (2010, Mountain View, $147M)Software Defined Network Control Fabric

Silver Lake, Accton Technology, The CID Group, MSD Capital

$35M - Series D Mar 2017VeloCloud (2012, Mountain View, $48M)Cloud Based WAN Optimization

Hermes Growth Partners, Khazanah Nasional, Telstra Global

LATE STAGE

$35M - Series C Jan 2016Cumulus Networks (2009, Mountain View, $86M)Linux operating system for networking hardware

$30.7M - Series D Jul 2017Big Switch Networks (2010, Mountain View, $147M)Software Defined Network Control Fabric

Dell Technologies

$30M - Series E Sep 2016Altiostar (2011, Tewksbury, $199M)Virtualized RAN & NFV solutions provider

$28M - Series C May 2016Dispersive Technologies (2012, Alpharetta, $41.6M)Virtualized network solutions for video and large file transfers

$27M - Series E Jan 2017Altiostar (2011, Tewksbury, $199M)Virtualized RAN & NFV solutions provider

LATE STAGE

$27M - Series C Jan 2016VeloCloud (2012, Mountain View, $48M)Cloud Based WAN Optimization

March Capital Partners, Cisco Investments

$25M - Series C Jan 2016Kumu Networks (2011, Sunnyvale, $45.4M)Spectrum efficiency using full-duplex technology

Verizon Ventures

$23M - Series C Nov 2016Barefoot Networks (2013, Palo Alto, $155M)High-speed programmable switches

Tencent, Alibaba

$21.5M - Series C May 2017128 Technology (2014, Burlington, $57M)Software based networking platform for distributed routing and network services

G20 Ventures

$20.7M - Series C Jun 2017Big Switch Networks (2010, Mountain View, $147M)Software Defined Network Control Fabric

Page 26: Tracxn - 5G Enablers Startup Landscape

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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; Dec 2015-Dec 2017

Notable Investments in last 24 months (2/3)

LATE STAGE

$14.6M - Series C Apr 2016Vasona Networks (2010, Tel Aviv, $48M)Solutions for mobile efficiency at the edge

NexStar Partners

$2M - Series E Aug 2017Altiostar (2011, Tewksbury, $199M)Virtualized RAN & NFV solutions provider

$1M - Series D May 2017Talari (2004, San Jose, $45.3M)Creating WAN by aggregation of private connections

Series D Jan 2016Plexxi (2010, Cambridge, $83.4M)Affinity networking services

GV

EARLY STAGE

$42M - Series B Sep 2017Federated Wireless (2013, Arlington, $69M)Saas based spectrum efficiency solutions provider

Charter Communications, American Tower, ARRIS, GIC

$22M - Series A Feb 2016Federated Wireless (2013, Arlington, $69M)Saas based spectrum efficiency solutions provider

Woodford Investment Management

$20.4M - Series B Jun 2016Midokura (2010, Tokyo, $44M)Network Virtualization leveraging existing physical infrastructure

Simplex

$20M - Series B Mar 2016Teridion (2013, Petah Tikva, $25M)Cloud Routing Services between data centre and enduser

Kickstart Ventures, Singtel Innov8, Globe Telecom

EARLY STAGE

$17M - Series A Jun 2017Pivotal Commware (2016, Bellevue, $17M)Software-defined antenna provider

Thermo Companies, DIG Investment, Lux Capital

$16.2M - Series B Dec 2015Blue Danube Systems (2006, San Francisco, $23.9M)Wireless Access Solutions to increase capacity.

Northgate Capital, Sequoia Capital, AT&T

$13.8M - Series A Jan 2017TiBit Communications (2014, Petaluma, $13.8M)Modules to virtualize access network using optical switches

$13.6M - Series B Aug 2016Sedona Systems (2014, Ra'anana, $19.6M)Real Time Network Layer Monitoring

Intel Capital, Bessemer Venture Partners

$9M - Series A Oct 2016Movandi (2016, Newport Beach, $9M)5G antenna solutions with beamforming technology

Page 27: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 201727

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; Dec 2015-Dec 2017

Notable Investments in last 24 months (3/3)

EARLY STAGE

$7M - Series A Dec 2017GenXComm (2016, Austin, $9.3M)Full-duplex based wireless backhaul solutions provider

Intel Capital, Azure Capital Partners, Capital Factory

$2.7M - Series A Nov 2017Anova Data (2007, Westford, $5.4M)Real time intelligence at the radio edge

$2.5M - Series A Mar 2016Anova Data (2007, Westford, $5.4M)Real time intelligence at the radio edge

SEED STAGE

$7M - Seed Sep 2017Metawave (2017, Palo Alto, $7M)Smart radar and 5G antenna systems provider

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 2017GenXComm (2016, Austin, $9.3M)Full-duplex based wireless backhaul solutions provider

University of Texas System Office of Technology Commercialization

$807k - Seed Jan 2017GenXComm (2016, Austin, $9.3M)Full-duplex based wireless backhaul solutions provider

Page 28: Tracxn - 5G Enablers Startup Landscape

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Most Active Investors (VC, PE) by Stage in 5G Enablers; Last 5 years (Dec 2012-Dec 2017)

Most Active VC & PE Investors

28

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)

5G Enablers > Investment Trends > Most Active VC & PE Investors

SEED STAGE

Maxfield Capital (2 Investments)Yoics, NFWare

1

ACT Venture PartnersAmbeent

2

Almaz CapitalNFWare

3

Alpine MeridianYoics

4

Alrai CapitalMetawave

5

ANU Connect VenturesInterfereX

6

Autotech VenturesMetawave

7

Bold Capital PartnersMetawave

8

CompoundYoics

9

Core Ventures GroupYoics

10

EARLY STAGE

Sequoia Capital (5 Investments)Viptela, Cumulus Networks, Barefoot Networks

1

Intel Capital (3 Investments)Big Switch Networks, Sedona Systems, GenXComm

2

New Enterprise Associates (3 Investments)VeloCloud, Console Connect, Luminate Wireless

3

Mayfield (2 Investments)Versa Networks, CloudGenix

4

Qualcomm Ventures (2 Investments)PLUMgrid, M87

5

Andreessen HorowitzBarefoot Networks

6

Allied MindsFederated Wireless

7

AME Cloud VenturesConsole Connect

8

Aristos VenturesNetsocket

9

ARTIS VenturesLuminus

10

LATE STAGE

Cisco Investments (4 Investments)Qwilt, Kumu Networks, Embrane

1

AME Cloud Ventures (2 Investments)Pluribus Networks, Cohere Technologies

2

Bessemer Venture Partners (2

Investments)Affirmed Networks, Qwilt

3

Hermes Growth Partners (2 Investments)Barefoot Networks, VeloCloud

4

CBC CapitalPluribus Networks

5

The CID GroupBig Switch Networks

6

Cross Creek AdvisorsCenx

7

Four Rivers GroupTalari

8

G20 Ventures128 Technology

9

GVPlexxi

10

Page 29: Tracxn - 5G Enablers Startup Landscape

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5G Enablers > Investment Trends > Most Active Ecosystem Investors

Top Ecosystem Investors in 5G Enablers; Last 5 years (Dec 2012-Dec 2017)

Most Active Ecosystem Investors

INCUBATOR

Magma Venture Partners (2 Investments)Teridion, Oliver Solutions

1

Alchemist AcceleratorPuloli

2

Jerusalem Venture PartnersTeridion

3

Portland Seed FundBigleaf

4

OTHER NOTABLE INVESTORS

BDC Capital (2 Investments)Cenx, Corsa

1

Fujitsu (2 Investments)Midokura, UBiqube

2

Swisscom (2 Investments)Kumu Networks, PLUMgrid

3

Deutsche Telekom (2 Investments)Kumu Networks, Flash Networks

4

21vianetM87

5

0Luminus

6

Accton TechnologyBig Switch Networks

7

AkamaiSaguna

8

AlibabaBarefoot Networks

9

Alliance of AngelsBigleaf

10

DEBT INVESTORS

Western Technology Investment (4

Investments)SpiderCloud, Metawave, ClearPath Networks

1

Page 30: Tracxn - 5G Enablers Startup Landscape

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5G Enablers > Investment Trends > Investors in Unicorn club

Investors in Unicorn Club (1/4)

Page 31: Tracxn - 5G Enablers Startup Landscape

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5G Enablers > Investment Trends > Investors in Unicorn club

Investors in Unicorn Club (2/4)

Page 32: Tracxn - 5G Enablers Startup Landscape

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5G Enablers > Investment Trends > Investors in Unicorn club

Investors in Unicorn Club (3/4)

Page 33: Tracxn - 5G Enablers Startup Landscape

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5G Enablers > Investment Trends > Investors in Unicorn club

Investors in Unicorn Club (4/4)

Page 34: Tracxn - 5G Enablers Startup Landscape

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

Unicorn Investors in the Sector

Page 35: Tracxn - 5G Enablers Startup Landscape

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Contents

Feed Summary

Investment Trend

Market Details

Exit Outlook

Investors

News

Appendix

35

BlueBox

Key Sub Sectors

Detailed Sector Taxonomy

Top Markets of Investment Activity

Top Markets of Early Stage Investors

Other Notable Markets

Market Deep Dive

Page 37: Tracxn - 5G Enablers Startup Landscape

Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.Feed Report - 5G Enablers - Dec 2017

December 2017Tracxn BlueBox – 5G Enablers

5G Enablers > Market Details > BlueBox

37

Page 38: Tracxn - 5G Enablers Startup Landscape

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Key Sub Sectors

38

Key Sub Sectors in 5G Enablers

Market Top Companies# Cos

Tracked#

FundedTotal

Funding

Core NetworkCompanies that provide solutions for Software Defined Networking (SDN) and virtualization of the network infrastructure leading to a shift from hardware...

VMware (1998, Palo Alto, Public)Barefoot Networks (2013, Palo Alto, $155M)

110 80 $2.5B

Radio Access Network (RAN)Companies that provide solutions which enable self-organization, improve spectrum efficiency and offer user/context relevant services

Intucell (2008, Ra'anana, $8.5M)Altiostar (2011, Tewksbury, $199M)

71 56 $1.1B

5G Enablers > Market Details > Key Sub Sectors

Page 39: Tracxn - 5G Enablers Startup Landscape

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Detailed Sector Taxonomy (1/2)

39

5G Enablers > Market Details > Detailed Sector Taxonomy

Page 40: Tracxn - 5G Enablers Startup Landscape

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Detailed Sector Taxonomy (2/2)

40

5G Enablers > Market Details > Detailed Sector Taxonomy

Page 41: Tracxn - 5G Enablers Startup Landscape

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Rank MarketLast 2 Years

$ Invested # Round Top Funded Company

1(+1)

Radio Access Network (RAN) > Spectrum EfficiencyCompanies that provide solutions to improve the spectrum efficiency and bandwidth optimization (Companies covered 21 | Funded 20 | Total Funding $380M)

$124M(+$59M)

9(+2)

Federated Wireless(2013, Arlington, $69M)

2(+2)

Core Network > Software Defined Networking (SDN) > ControllerCompanies that provide SDN controller including equipment and OS(Companies covered 16 | Funded 11 | Total Funding $320M)

$126M(+$34.9M)

7(+1)

Big Switch Networks(2010, Mountain View, $147M)

3(-2)

Core Network > Software Defined Networking (SDN) > SD-WANCompanies that provide SDN-based WAN solutions(Companies covered 12 | Funded 10 | Total Funding $418M)

$169M(+$36.3M)

6(-2)

Viptela(2012, San Jose, Acquired)

4(+1)

Radio Access Network (RAN) > Mobile Edge Computing (MEC)Companies that provide Mobile Edge Computing solutions to make the network intelligent based on the user location, preference, requirement at the edge of the network(Companies covered 10 | Funded 7 | Total Funding $178M)

$30.9M(+$2.4M)

6(+2)

Vasona Networks(2010, Tel Aviv, $48M)

5(-2)

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(Companies covered 22 | Funded 17 | Total Funding $772M)

$36.2M(-$23.3M)

3(-4)

Midokura(2010, Tokyo, $44M)

41

Note: The numbers in the bracket represent the change in a 2 year period.

Top Markets of Investment ActivityTop Markets by Funding in 5G Enablers in last 2 years (December 2015 - November 2017)

5G Enablers > Market Details > Top Markets of Investment Activity

Page 42: Tracxn - 5G Enablers Startup Landscape

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Rank Market # Investments Key Investments

1Radio Access Network (RAN) > Spectrum EfficiencyCompanies that provide solutions to improve the spectrum efficiency and bandwidth optimization(Companies created 21 | Funded 20 | Total Funding $380M )

2Blue Danube Systems (2006, San

Francisco, $23.9M)

GenXComm (2016, Austin, $9.3M)

2Core Network > Software Defined Networking (SDN) > Network ManagementCompanies that provide SDN-based network management solutions(Companies created 20 | Funded 11 | Total Funding $259M )

1 Sedona Systems (2014, Ra'anana, $19.6M)

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

42

Top Markets of Early Stage InvestorsTop Markets where Early Stage Investors are investing in last 2 years (December 2015 - November 2017)

5G Enablers > Market Details > Top Markets of Early Stage Investors

Page 43: Tracxn - 5G Enablers Startup Landscape

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Incubators

SeedUniversity of Texas System Office of Technology Commercialization (#1), Blooston, Mordkofsky, Dicken, Duffy & Prendergast (#1)

Series A/B New Enterprise Associates (#1), Khosla Ventures (#1)

Series C+ Intel Capital (#1), Verizon Ventures (#1)

Mobixell Networks Feb - 2014Acq by Flash Networks

xG Technology Jul - 2011IPO'd on NASDAQ

Cognio Oct - 2007Acq by Cisco

ISCO International Jul - 2002IPO'd on AMEX

Radisys Oct - 1995IPO'd on NASDAQ

$7M - Series AGenXComm (2016, Austin, $9.3M)

$42M - Series BFederated Wireless (2013,

Arlington, $69M)

$1.5M - SeedGenXComm (2016, Austin, $9.3M)

$8.5M - Series BDigital Global Systems (2012,

Beltsville, $16.8M)

$807k - SeedGenXComm (2016, Austin, $9.3M)

$878k - SeedSpectrum Effect (2015, Tampa,

$878k)

$22M - Series AFederated Wireless (2013,

Arlington, $69M)

Dec 2017xG Technology’s IMT Vislink Business Completes Delivery of

First Order Against $12.5 Million U.S., PR Newswire

Dec 2017GenXComm Secures $7 Million Series A Investment Round Led by Intel Capital, Citybizlist

Dec 2017Radisys and NS Solutions Partner to Deliver SDN, NFV and Security Solutions , Business Wire

Nov 2017xG Technology to Develop Interference Mitigation Platform for DARPA Program, ExecutiveBiz

Nov 2017Radisys, R&S Integrate Traffic Distribution Engine with Security Analytics Solution for European CSPs, The Fast Mode

Nov 2017 XG Technology -15.2% as q3 losses widen, Seeking Alpha

Nov 2017Radisys, Mavenir partnership provides path to commercial deployments of M-CORD, Financial News

Oct 2017IMT Vislink Appoints Jeff Cohen as Key Account Manager for newsnet™ Bidirectional IP ENG Ecosystem, NewsCenter

Oct 2017Open Source Upheaval Could Finish Off 'Traditional' Vendors, Light Reading

Sep 2017Cohere Technologies picks Siradel's 5G channel simulation platform, Telecompaper

Sep 2017Federated Wireless sees security as biggest challenge in CBRS, Fierce Wireless

Sep 2017Silicon Valley Bank Closes $30MM Facility for Radisys, ABFJournal

Sep 2017Radisys Bets its Own Evolution on the Evolution of 4G to 5G, SDxCentral

Sep 2017Radisys introduces new open telecom solution MobilityEngine, RCRWireless

News

0

1

2

3

4

5

6

$0k

$10M

$20M

$30M

$40M

$50M

$60M

$70M

2013 2014 2015 2016 2017

YoY Funding Rounds

4

5

13

20

21

M&A/IPO

Series C+

Series A+

Funded

CompaniesCovered

Funding Funnel

Radio Access Network (RAN) > Spectrum Efficiency: Market Factsheet

Market: Spectrum Efficiency

43

Exits

Most Active Investors

Recent Investments

YoY Funding and Rounds

Companies that provide solutions to improve the spectrum efficiency and bandwidth optimization

Federated Wireless(2013, Arlington, $69M)

Kumu Networks(2011, Sunnyvale, $45.4M)

Mobixell Networks(2000, Raanana, $39M)

Cohere Technologies(2013, Santa Clara, $35M)

Unwired Planet(1994, Redwood City, $33M)

Top Companies

#1 Top Markets of Investment Activity

5G Enablers > Market Details > Market: Spectrum Efficiency

Companies Created 21 | Funded 20 | Total Funding $380M

Page 44: Tracxn - 5G Enablers Startup Landscape

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Radio Access Network (RAN) > Spectrum Efficiency: Top Companies

Market: Spectrum Efficiency5G Enablers > Market Details > Market: Spectrum Efficiency

#1 Top Markets of Investment Activity

Analyst’s Pick

Federated Wireless (2013, Arlington, $69M)Saas based spectrum efficiency solutions providerSoonicorn. Stage: Series B

Charter Communications, American Tower, ARRIS and 3 Other Investors

Kumu Networks (2011, Sunnyvale, $45.4M)Spectrum efficiency using full-duplex technologySoonicorn. Stage: Series C

Verizon Ventures, Deutsche Telekom, New Enterprise Associates and 7 Other Investors

Cohere Technologies (2013, Santa Clara, $35M)OTFS based wireless connectivitySoonicorn. Stage: Series C

Lightspeed Venture Partners, AME Cloud Ventures, Macquarie SBI Infrastructure Management and 5 Other Investors

Flash Networks (1996, Herzliya, $32.2M)Internet optimization and monetization solutions. Soonicorn. Stage: Series C

Viola Group, The Challenge Fund-Etgar, Evergreen Venture Partners and 15 Other Investors

Analyst’s Pick

Blue Danube Systems (2006, San Francisco, $23.9M)Wireless Access Solutions to increase capacity. Minicorn. Stage: Series B

Northgate Capital, Sequoia Capital, AT&T

GenXComm (2016, Austin, $9.3M)Full-duplex based wireless backhaul solutions providerMinicorn. Stage: Series A

Intel Capital, Azure Capital Partners, Bandgap Ventures and 3 Other Investors

RED Technologies (2012, Paris)Dynamic spectrum sharing and SON solutions providersEditor's Pick. Stage: Funded

CapDecisif Management

Page 45: Tracxn - 5G Enablers Startup Landscape

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Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics

45

Radio Access Network (RAN) > Spectrum Efficiency: Leaderboard

Market: Spectrum Efficiency5G Enablers > Market Details > Market: Spectrum Efficiency

#1 Top Markets of Investment Activity

Better than Market Average

Overall Rating

Company Name

Founded Year

Location Stage Funding Team

Execution Quality Size Metrics 6M Growth Metrics

App Rating

App UX

Web UX

NewsWeb

Traffic Rank

Social Follow

ing

Mobile Downloads

# App Revie

ws

Web Traffic Rank

Mobile Downloads

Social Following

Δ % Δ % Δ %

5.0Flash Networks

1996 Herzliya Series C $32M - 5 - - 3 3.3M 562 3k 9 660k 26% - - 9 1%

4.7Telecom Technology Services

1997 Pleasanton Unfunded - - 5 - - - 2.9M 414 4k 33 - - 3 10% 12 3%

4.5Spectrum Bridge

2007 Lake Mary Series B $23M - 3 - - 1 3.2M 718 4k 39 -393k -12% - - -4 -1%

4.2Cohere Technologies

2013 Santa Clara Series C $35M - - - - 3 1.4M 12k - - -1.3M -45% - - 17.5k12594

%

3.9 Radisys 1987 Hillsboro Public $18M - - - - 28 533k 3.6k - - -7k -1% - - 2.2k 167%

3.7KumuNetworks

2011 Sunnyvale Series C $45M - - - - 6 5M 305 - - 5M 252% - - 5 2%

3.4MobixellNetworks

2000 Raanana Acquired $39M - - - - 6 - 2.3k - - - - - - -9 -

3.2 xG Technology 2002 Sarasota Public - - - - - 32 2.3M 743 - - 554k 31% - - 35 5%

2.9Federated Wireless

2013 Arlington Series B $69M - - - - 9 4.8M 350 - - - - - - 108 42%

2.6 GenXComm 2016 Austin Series A $9M - - - 3 3 6.6M 14 - - - - - - - -

2.4Shared Spectrum

2000 Vienna Series A $3M - - - - 3 10M 98 - - 5M 47% - - 1 1%

2.1Blue Danube Systems

2006San Francisco

Series B $24M - - - - 3 5.3M - - - 477k 11% - - - -

Page 46: Tracxn - 5G Enablers Startup Landscape

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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 - 2012Acq by Juniper Networks for $176M

$30.7M - Series DBig Switch Networks (2010,

Mountain View, $147M)

$20.7M - Series CBig Switch Networks (2010,

Mountain View, $147M)

$21.5M - Series C128 Technology (2014, Burlington,

$57M)

$1M - Series ABrain4Net (2015, Cambridge, $4.1M)

$1.5M - SeedNivetti Systems (2014, Bangalore,

$1.5M)

$1.8M - Series ABrain4Net (2015, Cambridge, $4.1M)

$48.5M - Series CBig Switch Networks (2010,

Mountain View, $147M)

$20M - Series B128 Technology (2014, Burlington,

$57M)

$300k - SeedBrain4Net (2015, Cambridge, $4.1M)

Dec 2017Big Switch's Big Mon Keeps an Eye on Mobile Subs, SDxCentral

Dec 2017Big Switch Unveils Multi-Terabit Network Visibility Platform for 4G/5G LTE Mobile Networks, 4-Traders

Dec 2017Big Switch Networks Honored as a Glassdoor Employees’ Choice Award Winner, Named One of the Best Places to Work in 2018, GlobeNewswire

Nov 2017Big Switch Networks builds on A/NZ presence with partner program launch, ARN

Oct 2017Lanner Partners with 128 Technology to Deliver Next Gen VNF and SD-WAN Deployments; Combined Solution to Debut at SDN NFV World Congress Event, PR Newswire

Aug 2017Big Switch Momentum Continues with Triple Digit Growth During Fiscal Year 2017, Fueled By Product Innovation and Geographic Expansion, Marketwired

Aug 2017Pluribus Networks Adds D-Link Systems as an Open Networking Partner, Business Wire

Aug 2017 IOL Certifies Brain4Net's B4N SwitchOS, NFVZone

Aug 2017Lanner, Brain4Net Boast OpenFlow First, opennetworkresource.com

Jul 2017Big Switch Networks fuels expansion with USD 30.7 mln worth of new funds, Telecompaper

Jun 2017 Big Switch Networks Secures $20 Million, NewsCenter

May 2017128 Technology raises $21.5 mln from G20 Ventures, others, PE Hub

May 2017Fiber Mountain Expands AllPath OPX Layer 1 Optical Path Exchange Family, PRWeb

News

0

1

2

3

4

5

$0k

$10M

$20M

$30M

$40M

$50M

$60M

$70M

$80M

2013 2014 2015 2016 2017

YoY Funding Rounds

1

3

6

11

16

M&A/IPO

Series C+

Series A+

Funded

CompaniesCovered

Funding Funnel

Core Network > Software Defined Networking (SDN) > Controller: Market Factsheet

Market: Controller

46

Exits

Most Active Investors

Recent Investments

YoY Funding and Rounds

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, $57M)

Contrail Systems(2012, Santa Clara, $10M)

Luminus(2012, San Francisco, $8.3M)

Top Companies

#2 Top Markets of Investment Activity

5G Enablers > Market Details > Market: Controller

Companies Created 16 | Funded 11 | Total Funding $320M

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Core Network > Software Defined Networking (SDN) > Controller: Top Companies

Market: Controller5G Enablers > Market Details > Market: Controller

#2 Top Markets of Investment Activity

Analyst’s Pick

Big Switch Networks (2010, Mountain View, $147M)Software Defined Network Control FabricSoonicorn. Stage: Series D

Dell Technologies, Silver Lake, Index Ventures and 10 Other Investors

Pluribus Networks (2010, Palo Alto, $92.5M)Network virtualizationSoonicorn. Stage: Series D

Temasek, Ericsson, Newtech Technology and 8 Other Investors

Argela Technologies (2004, Maslak)Networking solutions with focus on 5G enabling technologiesEditor's Pick. Stage: Acquired

Sanko

Page 48: Tracxn - 5G Enablers Startup Landscape

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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) > Controller: Leaderboard

Market: Controller5G Enablers > Market Details > Market: Controller

#2 Top Markets of Investment Activity

Better than Market Average

Overall Rating

Company Name

Founded Year

Location Stage Funding Team

Execution Quality Size Metrics 6M Growth Metrics

App Rating

App UX

Web UX

NewsWeb

Traffic Rank

Social Follow

ing

Mobile Downloads

# App Revie

ws

Web Traffic Rank

Mobile Downloads

Social Following

Δ % Δ % Δ %

5.0ArgelaTechnologies

2004 Maslak Acquired - - 4 - - - 2.8M 516 2k 25 631k 29% 3 14% - -

4.7128 Technology

2014 Burlington Series C $57M - - - - 4 1.1M 758 - - -62k -5% - - 239 44%

4.3Big Switch Networks

2010Mountain View

Series D $147M 5 - - - 20 405k 8.9k - - -174k -29% - - 332 4%

4.0 Brain4Net 2015 Cambridge Series A $4M - - - - 4 10M 151 - - 12M 239% - - 120 337%

3.7 Fiber Mountain 2013 Cheshire Unfunded - - - - - 2 5.5M 1.2k - - -44k -1% - - 37 3%

3.3 Luminus 2012San Francisco

Series A $8M - - - - - 10M 294 - - -3.7M -16% - - -8 -3%

3.0Pluribus Networks

2010 Palo Alto Series D $93M 5 - - - 1 1.6M - - - -120k -7% - - - -

2.7Contrail Systems

2012 Santa Clara Acquired $10M - - - - 1 10M - - - - - - - - -

2.3EstinetTechnologies

2011 Hsinchu Funded - - - - - - 3.3M - - - 521k 22% - - - -

2.0NivettiSystems

2014 Bangalore Seed $1M - - - - - 10M - - - - - - - - -

1.7LumaNetworks

2013 Sydney Funded - - - - - - 10M 28 - - - - - - -1 -6%

1.3Oliver Solutions

2010 Herzliya Seed - - - - - - 10M - - - - - - - - -

1.0 ATTO Research 2012 Santa Clara Unfunded - - - - - - 7.9M - - - 7M 249% - - - -

Page 49: Tracxn - 5G Enablers Startup Landscape

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Incubators The Fabric (#1), Portland Seed Fund (#1)

Seed

Series A/B Sequoia Capital (#2), Mayfield (#2)

Series C+ Redline Capital Management (#1), Northgate Capital (#1) VeloCloud Nov - 2017Acq by VMware

$1M - Series DTalari (2004, San Jose, $45.3M)

$35M - Series DVeloCloud (2012, Mountain View,

$48M)

$3.4M - Series CDispersive Technologies (2012,

Alpharetta, $41.6M)

$75M - Series CViptela (2012, San Jose, $109M)

$28M - Series CDispersive Technologies (2012,

Alpharetta, $41.6M)

$27M - Series CVeloCloud (2012, Mountain View,

$48M)

$43M - Series BVersa Networks (2012, Cupertino,

$57.4M)

$25M - Series BCloudGenix (2013, Santa Clara, $34M)

$1.5M - Series ABigleaf (2012, Beaverton, $1.5M)

Series CMultapplied Networks (2008,

Chilliwack)

Dec 2017Victory Square to Acquire 20% of Multapplied Networks Software Defined Wide Area Networking (SD-WAN) Blockchain Company, GlobeNewswire

Dec 2017Cisco Integrates Viptela SD-WAN Tech on Existing Routers, SDxCentral

Dec 2017Silver Peak Earns 2017 Internet Telephony Channel Program Excellence Award, Business Wire

Dec 2017 VMware Wraps VeloCloud Purchase, Channel Partners Online

Dec 2017Versa Networks Named a Winner of the 2017 INTERNET TELEPHONY Channel Program Excellence Award, 4-Traders

Dec 2017Versa Networks Selected as a 2017 Red Herring Top 100 Global Winner, Sector Publishing Intelligence

Nov 2017Talari Crowns Former Dell Exec As CEO, Plans To Go 100 Percent Channel, CRN

Nov 2017Versa Networks Extends Software-Defined Branch with New Unified Communications Services , Marketwired

Nov 2017VMware acquires VeloCloud as it moves deeper into networking, Tech Empire

Oct 2017Talari Appliance Enables Third-Party Service Chaining, sdwanresource.com

Oct 2017Nexon Asia-Pacific partners with VeloCloud for Cloud-Delivered SD-WAN, DataCenterNews

Sep 2017Wipro, CloudGenix Partner to Deliver Managed SD-WAN Services, Business Wire India

Sep 2017 VeloCloud Expanded The Industry’s First SD, SuperbCrew

News

0

1

2

3

4

5

$0k

$20M

$40M

$60M

$80M

$100M

$120M

$140M

$160M

2013 2014 2015 2016 2017

YoY Funding Rounds

1

6

10

10

12

M&A/IPO

Series C+

Series A+

Funded

CompaniesCovered

Funding Funnel

Core Network > Software Defined Networking (SDN) > SD-WAN: Market Factsheet

Market: SD-WAN

49

Exits

Most Active Investors

Recent Investments

YoY Funding and Rounds

Companies that provide SDN-based WAN solutions

Viptela(2012, San Jose, $109M)

Silver Peak(2004, Santa Clara, $63.5M)

Versa Networks(2012, Cupertino, $57.4M)

VeloCloud(2012, Mountain View, $48M)

Top Companies

#3 Top Markets of Investment Activity

5G Enablers > Market Details > Market: SD-WAN

Companies Created 12 | Funded 10 | Total Funding $418M

Page 50: Tracxn - 5G Enablers Startup Landscape

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Core Network > Software Defined Networking (SDN) > SD-WAN: Top Companies

Market: SD-WAN5G Enablers > Market Details > Market: SD-WAN

#3 Top Markets of Investment Activity

Analyst’s Pick

Viptela (2012, San Jose, $109M)Providing Secure Extensible NetworksEditor's Pick. Stage: Acquired

Sequoia Capital, Redline Capital Management, Northgate Capital, Moment Ventures

Versa Networks (2012, Cupertino, $57.4M)SD-WAN and SD-Security solutions based on NFVSoonicorn. Stage: Series B

Verizon Ventures, Sequoia Capital, Mayfield and 2 Other Investors

VeloCloud (2012, Mountain View, $48M)Cloud Based WAN OptimizationSoonicorn. Stage: Acquired

Hermes Growth Partners, Khazanah Nasional, New Enterprise Associates and 7 Other Investors

Talari (2004, San Jose, $45.3M)Creating WAN by aggregation of private connectionsSoonicorn. Stage: Series D

Square 1 Bank, Menlo Ventures, Silver Creek Ventures and 2 Other Investors

Analyst’s Pick

Multapplied Networks (2008, Chilliwack)Bonded internet and white-label platform to deploy SD-WANSoonicorn. Stage: Series C

Madison Partners

Page 51: Tracxn - 5G Enablers Startup Landscape

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Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics

51

Core Network > Software Defined Networking (SDN) > SD-WAN: Leaderboard

Market: SD-WAN5G Enablers > Market Details > Market: SD-WAN

#3 Top Markets of Investment Activity

Better than Market Average

Overall Rating

Company Name

Founded Year

Location Stage Funding Team

Execution Quality Size Metrics 6M Growth Metrics

App Rating

App UX

Web UX

NewsWeb

Traffic Rank

Social Follow

ing

Mobile Downloads

# App Revie

ws

Web Traffic Rank

Mobile Downloads

Social Following

Δ % Δ % Δ %

5.0 Viptela 2012 San Jose Acquired $109M 4 - - - 26 473k 9.9k - - 111k 30% - - 718 8%

4.5 VeloCloud 2012Mountain View

Acquired $48M 5 - - - 44 422k 4.3k - - -89k -17% - - 690 18%

4.1Versa Networks

2012 Cupertino Series B $57M 4 - - - 22 812k 7.7k - - -275k -26% - - 5.7k 183%

3.6 Silver Peak 2004 Santa Clara Series D $64M - - - - 13 296k 28k - - -19k -6% - - - -

3.2 CloudGenix 2013 Santa Clara Series B $34M - - - - 16 1.1M 1.7k - - -16k -1% - - 185 12%

2.7 Talari 2004 San Jose Series D $45M 5 - - - 9 1.1M 1.8k - - -203k -17% - - 330 23%

2.3Mushroom Networks

2004 San Diego Unfunded - - - - - 3 605k 999 - - 81k 15% - - 11 1%

1.8Dispersive Technologies

2012 Alpharetta Series C $42M - - - - - 3.4M 198 - - - - - - 7 3%

1.4 Glue Networks 2007 Sacramento Series B $19M - - - - - 5.5M 738 - - 2M 52% - - - -

0.9 Bigleaf 2012 Beaverton Series A $2M - - - - 3 1.9M 246 - - -552k -23% - - 50 24%

0.5 Cosgrid 2016 Chennai Unfunded - - - - - - 6.9M - - - - - - - - -

0.0MultappliedNetworks

2008 Chilliwack Series C - - - - - 4 1.8M - - - -7.2M -79% - - - -

Page 52: Tracxn - 5G Enablers Startup Landscape

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Market: Mobile Edge Computing (MEC)

52

#4 Top Markets of Investment Activity

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

Companies Created 10 | Funded 7 | Total Funding $178M

Page 53: Tracxn - 5G Enablers Startup Landscape

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

#4 Top Markets of Investment Activity

Page 54: Tracxn - 5G Enablers Startup Landscape

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

#4 Top Markets of Investment Activity

Better than Market Average

Page 55: Tracxn - 5G Enablers Startup Landscape

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Market: Network Function Virtualization (NFV)

55

#5 Top Markets of Investment Activity

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

Companies Created 22 | Funded 17 | Total Funding $772M

Page 56: Tracxn - 5G Enablers Startup Landscape

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

#5 Top Markets of Investment Activity

Page 57: Tracxn - 5G Enablers Startup Landscape

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

#5 Top Markets of Investment Activity

Better than Market Average

Page 58: Tracxn - 5G Enablers Startup Landscape

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Market: Network Management

58

#2 Top Markets of Early Stage Investors

5G Enablers > Market Details > Market: Network Management

Companies Created 20 | Funded 11 | Total Funding $259M

Page 59: Tracxn - 5G Enablers Startup Landscape

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Market: Network Management5G Enablers > Market Details > Market: Network Management

#2 Top Markets of Early Stage Investors

Page 60: Tracxn - 5G Enablers Startup Landscape

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Market: Network Management5G Enablers > Market Details > Market: Network Management

#2 Top Markets of Early Stage Investors

Better than Market Average

Page 61: Tracxn - 5G Enablers Startup Landscape

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Public Companies

Contents

Feed Summary

Investment Trend

Market Details

Exit Outlook

Investors

News

Appendix

61

Notable Acquisitions

Top Acquirers

Acqui-hires

Page 63: Tracxn - 5G Enablers Startup Landscape

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Recently IPO’d Companies

63

Performance indicators of recently public companies in 5G Enablers

IPO Date CompanyCurrent

MCapIPO

McapRevenue P/E

ExchangeTicker

Jun 2014Arista (2005, Santa Clara)

Software driven Cloud networking solutions$16.6B $2.7B $328M 47.07 NYSE:ANET

Jul 2011xG Technology (2002, Sarasota)

Radio technology enabling Spectrum sharing$22.8M $62.8M $6.6M XGTI

Jan 2011Pareteum(2001, Barcelona)

SDN and NFV based mobile core network platform providerNYSEMKT:ETAK

Aug 2007VMware (1998, Palo Alto)

Virtualization SoftwareNYSE:VMW

Jul 2002ISCO International (1989, Schaumburg)

Spectrum conditioning solutions provider$10.5M AMEX:ISO

Oct 1995Radisys (1987, Hillsboro)

Wireless infrastructure solutions$33M $212M NASDAQ:RSYS

Unwired Planet (1994, Redwood City)

Context aware mediation and messaging solutions

5G Enablers > Exit Outlook > Recently IPO’d Companies

Page 64: Tracxn - 5G Enablers Startup Landscape

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Notable Acquisitions (1/3)

64

Notable Acquisitions in 5G Enablers

5G Enablers > Exit Outlook > Notable Acquisitions

2017 YTD

Acquirer: VMwareVeloCloud (2012, Mountain View, $48M)Cloud Based WAN Optimization

Acquirer: Cisco Deal: $610MViptela (2012, San Jose, $109M)Providing Secure Extensible Networks

Acquirer: CorningSpiderCloud (2007, San Jose, $136M)Scalable Multi-Access Small Cell Systems

2016

Acquirer: VMwarePLUMgrid (2011, Sunnyvale, $26.9M)Network virtualization for SDN

2015

Acquirer: CradlepointPertino (2011, Los Gatos, $28.9M)VPN to the power of the cloud

Acquirer: CienaCyan (2006, Petaluma, $97.5M)Optical transport equipment and SDN platform provider

Acquirer: Ciena Deal: $488MBlue Planet (2006, Hanover, $97.6M)Multi-Vendor network management

Acquirer: Hewlett-PackardConteXtream (2006, Petah Tikva, $23.8M)Carrier grade SDN solution

Acquirer: CiscoEmbrane (2009, Santa Clara, $41M)Platform for virtual network services

Page 65: Tracxn - 5G Enablers Startup Landscape

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Notable Acquisitions (2/3)

65

Notable Acquisitions in 5G Enablers

5G Enablers > Exit Outlook > Notable Acquisitions

2014

Acquirer: Flash NetworksMobixell Networks (2000, Raanana, $39M)Mobile internet optimization solutions

2013

Acquirer: Cisco Deal: $863MInsieme Networks (2013, California)Hardware based response to SDN & NFV

Acquirer: NTT communicationsDeal: $525M

Virtela Communications (2000, Greenwood Village, $105M)Virtual Overlay Network Services

Acquirer: Amdocs Deal: $120MActix (1981, London, $76.1M)Mobile network analytics and optimization

Acquirer: Cisco Deal: $475MIntucell (2008, Ra'anana, $8.5M)Software platform for SON (Self Optimizing Network).

2012

Acquirer: Juniper Networks Deal: $176MContrail Systems (2012, Santa Clara, $10M)Controller for SDN

Acquirer: Brocade Communication SystemsVyatta (2005, Belmont, $40.6M)Network virtualization software

Acquirer: VMware Deal: $1.3BNicira (2007, Palo Alto, $43.4M)Network Virtualization platform for SDDC

Page 66: Tracxn - 5G Enablers Startup Landscape

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Notable Acquisitions (3/3)

66

Notable Acquisitions in 5G Enablers

5G Enablers > Exit Outlook > Notable Acquisitions

Before 2008

Acquirer: CiscoCognio (2000, Germantown, $24.5M)Spectrum Intelligence Provider

Page 67: Tracxn - 5G Enablers Startup Landscape

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Most Active Acquirers

67

5G Enablers > Exit Outlook > Most Active Acquirers

Page 68: Tracxn - 5G Enablers Startup Landscape

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Acqui-hires

68

List of Acqui-hires in 5G Enablers

Excludes all details for Chinese companies

Date Target

Jun-16Active Broadband Networks Acq by CenturyLink

Jan-16 Ocedo Acq by Riverbed

Nov-15 Reverb Networks Acq by Viavi

May-15Eden Rock Communications Acq by Nokia

Mar-15Connectem Acq by Brocade Communication Systems

Jan-15 Treq Labs Acq by Sonus

Oct-14 Xceed Technologies Acq by Anite

Jul-14 Xpliant Acq by Cavium

Jul-14 PowerCloud Systems Acq by Comcast

Jan-14 Corente Acq by Oracle

Mar-13 Arieso Acq by JDSU

Oct-12 vCider Acq by Cisco

Jul-12 Xsigo Acq by Oracle

Feb-12 Schema Acq by TEOCO

Date Target

Jan-11 Pareto Networks Acq by Aerohive

Feb-10 Neterion Acq by Exar

Jun-07Argela Technologies Acq by Turk Telekom

5G Enablers > Exit Outlook > Acqui-hires

View all 17 Acqui-hired companies on Tracxn Platform

Page 69: Tracxn - 5G Enablers Startup Landscape

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Contents

Feed Summary

Investment Trend

Market Details

Exit Outlook

Investors

News

Appendix

69

Details on VC & PE Investors

Details on Top Ecosystem Players

Page 71: Tracxn - 5G Enablers Startup Landscape

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Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)

5G Enablers > Investors > Index of Most Active VC & PE Investors

Index of Top Investors (VC, PE) by Stage in 5G Enablers; Last 5 years (Dec 2012 - Nov 2017)

Index of Most Active VC & PE Investors

SEED STAGE

Maxfield Capital (2 Investments)

Lightspeed Venture Partners

Khosla Ventures

Alrai Capital

Autotech Ventures

Bold Capital Partners

Motus Ventures

Rising Tide Fund

Core Ventures Group

CrunchFund

SoftBank Ventures Korea

TMT Investments

Alpine Meridian

Compound

Double M Partners

EARLY STAGE

Sequoia Capital (5 Investments)

New Enterprise Associates (3 Investments)

Intel Capital (3 Investments)

Mayfield (2 Investments)

Qualcomm Ventures (2 Investments)

Bessemer Venture Partners

Khosla Ventures

Andreessen Horowitz

AME Cloud Ventures

Charles River Ventures

Northgate Capital

Venrock

Verizon Ventures

North Bridge

GV

LATE STAGE

Cisco Investments (4 Investments)

Bessemer Venture Partners (2 Investments)

AME Cloud Ventures (2 Investments)

Hermes Growth Partners (2 Investments)

New Enterprise Associates

Lightspeed Venture Partners

Northgate Capital

Menlo Ventures

Verizon Ventures

MSD Capital

Redline Capital Management

March Capital Partners

Deutsche Telekom Capital Partners

The CID Group

GV

Page 72: Tracxn - 5G Enablers Startup Landscape

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Maxfield Capital

72

Portfolio in 5G Enablers | Exits | Funds Link | Website | LinkedIn | Twitter

5G Enablers > Investors > Maxfield Capital

People

Investments

[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

Other Notable Portfolio

Top Exits

Recent News on Fund & Portfolio

Alexander LazarevCo-Founder & Partner

Alexander TurkotFounder & Managing Partner

Geographical Spread Stage of Entry

Mar 2017NFWare 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 2014TMT Investments injects $250,000 into ‘Internet of everything’ startup Weaved, East-West Digital News

Dec 2012Yoics, Cloud Service Provider for Devices, Closes $1 Million in Funding Led by CrunchFund, PRWeb

None

11 1

2012 2013 2014 2015 2016 2017

Follow On New Investments-

-

-

-

2

Undisclosed

Series C+

Series B

Series A

Seed1

1

-

-

-

US

Europe

Page 73: Tracxn - 5G Enablers Startup Landscape

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Lightspeed Venture Partners

73

Portfolio in 5G Enablers | Exits | Funds Link | Website | LinkedIn | Twitter

5G Enablers > Investors > Lightspeed Venture Partners

People

Investments

[Soonicorn] Barefoot Networks (2013, Palo Alto, $155M, Series C)High-speed programmable switches

[Soonicorn] Affirmed Networks (2010, Middlesex, $117M, Series C)Mobile network virtualization solution

[Soonicorn] Plexxi (2010, Cambridge, $83.4M, Series D)Affinity networking services

[Soonicorn] Cohere Technologies (2013, Santa Clara, $35M, Series C)OTFS based wireless connectivity

5G Enablers Notable Portfolio

[Unicorn] Snapchat (2011, Los Angeles, $2.6B, Public)

Real-time ephemeral messaging service with a timer

[Unicorn] Affirm (2012, San Francisco, $620M, Series E)

Online lending platform for purchase financing

[Unicorn] Nutanix (2009, San Jose, $340M, Public)

Converged Compute and storage infrastructure

[Unicorn] Honest (2011, Santa Monica, $296M, Series E)

Ecofriendly Infant Products Subscription

[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

[Unicorn] MuleSoft (2006, San Francisco, $259M, Public)

Saas based Integration platform for connecting enterprise applications

[Unicorn] Docker (2008, San Francisco, $243M, Series E)

LXC based OS-level virtualization technology and PaaS

Other Notable Portfolio

Top Exits

Recent News on Fund & Portfolio

James MiCo-Founder & Managing Director

Geographical Spread Stage of Entry

Nov 2017Plexxi Appoints Denis Vilfort to Vice President of

Marketing, PR Newswire

Aug 2017Affirmed: Lack of Automation Will Kill Innovation, Light Reading

Aug 2017Plexxi Hyperconverged Networking Fabric Integrates Real-Time Analytics, SDxCentral

Jul 2017Affirmed Slices Into Network Management, Aims for IPO, Light Reading

Jul 2017Affirmed Networks says it can deliver 5G-ready network slicing today, Fierce Wireless

Apr 2017Plexxi Nabs Former SimpliVity Sales Leader To Drive Hyper-Convergence Growth , CRN

Feb 2017Digicel Selects Affirmed Networks as Strategic Partner for its Global Network Transformation, PR Newswire

Feb 2017Juniper Networks partners with Affirmed Networks and Netronome to deliver a scalable cloud solution for mobile subscriber services, ITWeb

Nicira(2007, Palo Alto, $43.4M)Acq by VMware - Jul 2012

Embrane(2009, Santa Clara, $41M)Acq by Cisco - Apr 2015

Pertino(2011, Los Gatos, $28.9M)Acq by Cradlepoint - Dec 2015

1

2 2

1 1

2

1

1

2012 2013 2014 2015 2016 2017

Follow On New Investments-

2

3

1

1

Undisclosed

Series C+

Series B

Series A

Seed7

-

-

-

-

US

Page 74: Tracxn - 5G Enablers Startup Landscape

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Khosla Ventures

74

Portfolio in 5G Enablers | Exits | Funds Link | Website | LinkedIn | Twitter

5G Enablers > Investors > Khosla Ventures

People

Investments

[Soonicorn] Big Switch Networks (2010, Mountain View, $147M, Series D)Software Defined Network Control Fabric

[Soonicorn] Kumu Networks (2011, Sunnyvale, $45.4M, Series C)Spectrum efficiency using full-duplex technology

[Minicorn] Metawave (2017, Palo Alto, $7M, Seed)Smart radar and 5G antenna systems provider

5G Enablers Notable Portfolio

[Unicorn] Oscar (2012, New York City, $728M, Series B)

Internet-first health insurance provider

[Unicorn] Instacart (2012, San Francisco, $675M, Series D)

Marketplace for same-day grocery delivery

[Unicorn] View (2007, Milpitas, $646M, Series G)

Smart window glass for buildings

[Unicorn] Affirm (2012, San Francisco, $620M, Series E)

Online lending platform for purchase financing

[Unicorn] Zenefits (2013, San Francisco, $584M, Series C)

SaaS HR Platform for SMBs

[Unicorn] Square (2009, San Francisco, $490M, Public)

Mobile point of sale provider

[Unicorn] Stripe (2010, San Francisco, $473M, Series D)

Web & Mobile Payments for Developers

[Unicorn] Nutanix (2009, San Jose, $340M, Public)

Converged Compute and storage infrastructure

[Unicorn] Vox Media (2003, Washington D.C., $324M, Series E)

Digital media publishing network

Other Notable Portfolio

Top Exits

Recent News on Fund & Portfolio

Vinod KhoslaFounder & Partner

Geographical Spread Stage of Entry

Dec 2017Big Switch's Big Mon Keeps an Eye on Mobile Subs, SDxCentral

Dec 2017Big Switch Unveils Multi-Terabit Network Visibility Platform for 4G/5G LTE Mobile Networks, 4-Traders

Dec 2017Big Switch Networks Honored as a Glassdoor Employees’ Choice Award Winner, Named One of the Best Places to Work in 2018, GlobeNewswire

Nov 2017Big Switch Networks builds on A/NZ presence with partner program launch, ARN

Aug 2017Big Switch Momentum Continues with Triple Digit Growth During Fiscal Year 2017, Fueled By Product Innovation and Geographic Expansion, Marketwired

Aug 2017HPE-Big Switch Partnership Boosts Open Networking Pitch, SDxCentral

Jul 2017Big Switch Networks fuels expansion with USD 30.7 mln worth of new funds, Telecompaper

Jul 2017Big 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(2012, Santa Clara, $10M)Acq by Juniper Networks - Dec 2012

Arista(2005, Santa Clara)IPO - Jun 2014

1

2

1

1

1

1

2012 2013 2014 2015 2016 2017

Follow On New Investments1

-

1

3

1

Undisclosed

Series C+

Series B

Series A

Seed6

-

-

-

-

US

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5G Enablers > Investors > Index of Ecosystem Investors

Index of Top Ecosystem Investors in 5G Enablers; Q3 2012 - Q3 2017

Index of Ecosystem Investors

INCUBATOR

Magma Venture Partners (2 Investments)

Alchemist Accelerator

Jerusalem Venture Partners

Portland Seed Fund

OTHER NOTABLE INVESTORS

BDC Capital (2 Investments)

Fujitsu (2 Investments)

Swisscom (2 Investments)

Deutsche Telekom (2 Investments)

21vianet

Accton Technology

Akamai

Alibaba

Alliance of Angels

American Tower

Ancora

ARRIS

AT&T

University of Birmingham

DEBT INVESTORS

Western Technology Investment (4

Investments)

Page 117: Tracxn - 5G Enablers Startup Landscape

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Magma Venture Partners

117

Portfolio in 5G Enablers | Exits | Funds Link | Website | LinkedIn | Twitter

5G Enablers > Investors > Magma Venture Partners

People

Investments

[Soonicorn] AppsFlyer (2011, Herzliya, $84M, Series C)

Mobile App Tracking & Campaign Measurement

[Soonicorn] Magisto (2009, Ness Ziona, $20.5M, Series C)

Video editing app

[Minicorn] Innoviz Technologies (2016, Kfar Saba, $82M,

Series B)Low-cost high definition solid-state LiDAR

[Minicorn] Indegy (2014, Haifa, $18M, Series A)

Industrial firewall based ICS security solution

[Minicorn] Avanan (2014, New York City, $16.4M, Series A)

Cloud based CASB solution

[Minicorn] TabTale (2010, Ramat Hasharon, $13.5M, Series A)

Developer and publisher of interactive games and educational apps for kids

Other Notable Portfolio

Top Exits

Recent News on Fund & Portfolio

Modi RosenCo-Founder & Managing Partner

Yahal ZilkaCo-Founder & Managing Partner

Geographical Spread Stage of Entry

Oct 2017 HP's Former Cloud Chief is Now CEO of Teridion, Fortune

Mar 2016Teridion raises $20 Million in Series B round from Kickstart Ventures – The Tech Bulletin, The Bulletin Network

None

1

2012 2013 2014 2015 2016 2017

Follow On New Investments1

-

1

-

-

Undisclosed

Series C+

Series B

Series A

Seed2

-

-

-

-

Israel

Page 118: Tracxn - 5G Enablers Startup Landscape

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Alchemist Accelerator

118

Portfolio in 5G Enablers | Exits | Funds Link | Website | LinkedIn | Twitter

5G Enablers > Investors > Alchemist Accelerator

Investments

[Minicorn] LaunchDarkly (2014, Oakland, $32.3M, Series B)

Early User Feedback capture

[Minicorn] Clear Metal (2015, San Francisco, $12M, Series A)

Analytics platform for container shipping industry

[Minicorn] Sense.ly (2013, San Francisco, $11.5M, Series B)

Platform with a virtual nurse for health care monitoring and management

[Minicorn] MoEngage (2014, Bangalore, $5M, Series A)

Mobile based platform for personalized marketing

[Minicorn] PlayVox (2012, San Francisco, $2.2M, Series A)

Employee Engagement Software for Call centers

[Minicorn] ShoppinPal (2011, Pune, $1.6M, Series A)

Mobile commerce platform for brick & mortar retail stores

Other Notable Portfolio

Top Exits Recent News on Fund & Portfolio

Geographical Spread Stage of Entry

NoneNone

1

2012 2013 2014 2015 2016 2017

Follow On New Investments-

-

-

-

1

Undisclosed

Series C+

Series B

Series A

Seed1

-

-

-

-

US

Page 119: Tracxn - 5G Enablers Startup Landscape

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Jerusalem Venture Partners

119

Portfolio in 5G Enablers | Exits | Funds Link | Website | LinkedIn | Twitter

5G Enablers > Investors > Jerusalem Venture Partners

People

Investments

[Soonicorn] CyberArk (1999, Petah Tikva, $59M, Public)

Privileged account security solution

[Soonicorn] AnyClip (2008, Jerusalem, $21M, Series B)

Video Marketing Solutions

[Minicorn] AppDome (2011, Tel Aviv, $20.5M, Series A)

SaaS based dynamic application wrapping for mobile app protection

[Minicorn] ThetaRay (2013, Jerusalem, $15M, Series B)

Big data analytics based cyber threats and operational risk detection

[Minicorn] GamEffective (2012, Tel Aviv, $10M, Series A)

Enterprise Gamification platform for Sales and Customer service

[Minicorn] MorphiSec (2014, Beersheba, $8.5M, Series A)

Infiltration prevention & forensics solution on endpoints

[Minicorn] Secret Double Octopus (2015, Beersheba, $7.5M,

Series A)keyless networking framework for network security

[Minicorn] SecBi (2014, Beersheba, $5M, Series A)

Security business intelligence based incident investigation & response

Other Notable Portfolio

Top Exits

Recent News on Fund & Portfolio

Erel N. MargalitFounder / Managing Partner

Geographical Spread Stage of Entry

Oct 2017 HP's Former Cloud Chief is Now CEO of Teridion, Fortune

Mar 2016Teridion raises $20 Million in Series B round from Kickstart Ventures – The Tech Bulletin, The Bulletin Network

None

11

2012 2013 2014 2015 2016 2017

Follow On New Investments-

-

-

1

-

Undisclosed

Series C+

Series B

Series A

Seed1

-

-

-

-

Israel

Page 130: Tracxn - 5G Enablers Startup Landscape

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Contents

Feed Summary

Investment Trend

Key Markets

Exit Outlook

Investors

News

Appendix

130

Recent News

Page 132: Tracxn - 5G Enablers Startup Landscape

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Recent News in 5G Enablers Sector

Recent News (1/2)

132

5G Enablers > News > Recent News

Dec 2017xG Technology’s IMT Vislink Business Completes Delivery of First Order Against $12.5 Million U.S., PR Newswire

Dec 2017 Businesses Go on Pre-Holiday Cloud Acquisition Spree , DarkReading

Dec 2017SD-WAN Vendor TELoIP Names Former AT&T Exec as CEO, SDxCentral

Dec 2017Victory Square to Acquire 20% of Multapplied Networks Software Defined Wide Area Networking (SD-WAN) Blockchain Company, GlobeNewswire

Dec 2017P.I. Works and Turkcell Won the "Leading Contribution to SON” Award at 2017 Self Organizing Networks World, London, Business Wire

Dec 2017Bill Gates backs startup to bring holographic beamforming, European Business Press

Dec 2017Cisco Integrates Viptela SD-WAN Tech on Existing Routers, SDxCentral

Dec 2017Silver Peak Earns 2017 Internet Telephony Channel Program Excellence Award, Business Wire

Dec 2017VMware : Named a Leader in the IDC MarketScape for Enterprise Mobility Management Software for Ruggedized/IoT Device Deployments, 4-Traders

Dec 2017 VMware Wraps VeloCloud Purchase, Channel Partners Online

Dec 2017GenXComm Secures $7 Million Series A Investment Round Led by Intel Capital, Citybizlist

Key Recent News Key Recent News

Dec 2017CENX Named in 2017 Deloitte Technology Fast 500 List, PR

Newswire

Dec 2017New Global Research Reveals Keys to Unlocking Successful Multi-Cloud Adoption, Marketwired

Dec 2017Versa Networks Named a Winner of the 2017 INTERNET TELEPHONY Channel Program Excellence Award, 4-Traders

Dec 2017 Big Switch's Big Mon Keeps an Eye on Mobile Subs, SDxCentral

Dec 2017Taoglas Opens Office in Shenzhen to Meet Growing Demand in Asia-Pacific Region, Business Wire

Dec 2017 T. Rowe Price discloses VMware stake, Seeking Alpha

Dec 2017CORRECTING and REPLACING VeloCloud Expands Integration of Cloud-Delivered SD-WAN to Amazon Web Services, Business Wire

Dec 2017VMware : and Carbon Black Fundamentally Transform Current Approaches to Data Center and Cloud Security, 4-Traders

Dec 2017Vmware ‘no-brainer’ integrates vRealize Suite & Cloud Foundation to ease hybrid migration woes, CBROnline

Dec 2017White Paper Released on Beamforming Technologies Designed to Enhance 4G and 5G Network Capacities, Business Wire

Dec 2017Metrobank Card Corp. taps VMware for digital transformation, Newsbytes

Dec 2017Versa Networks Selected as a 2017 Red Herring Top 100 Global Winner, Sector Publishing Intelligence

Page 133: Tracxn - 5G Enablers Startup Landscape

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Recent News in 5G Enablers Sector

Recent News (2/2)

133

5G Enablers > News > Recent News

Dec 2017 Arista EOS Advances Cloud-Grade Routing, Business Wire

Dec 2017SolarWinds Integrates with VMware to Automate IP Address Management for Virtual Environments, 4-Traders

Dec 2017Big Switch Unveils Multi-Terabit Network Visibility Platform for 4G/5G LTE Mobile Networks, 4-Traders

Dec 2017 Cubics DTECH Labs Completes VMware Testing, PressReleasePoint

Dec 2017Independent Research Firm Names VMware a Leader in Enterprise Mobility Management, 4-Traders

Dec 2017Big Switch Networks Honored as a Glassdoor Employees’ Choice Award Winner, Named One of the Best Places to Work in 2018, GlobeNewswire

Dec 2017Bigleaf Networks’ Upgrade Enables Gigabit Cloud-first SD-WAN Solution, GlobeNewswire

Dec 2017How VMware Now Supports Microservices Container Development, eWEEK

Dec 2017VMware Launches New Iteration of Cloud Foundation, Channel Partners Online

Dec 2017VMware updates NSX-T network software to support software container development, SiliconAngle

Dec 2017Radisys and NS Solutions Partner to Deliver SDN, NFV and Security Solutions , Business Wire

Dec 2017Barefoot Networks Launches Deep Insight™, Enabling Network Owners to See What Every Packet Is Doing. To the Nanosecond., GlobeNewswire

Key Recent News Key Recent NewsDec 2017 Sprint to offer SpiderCloud small cell for enterprise, Fierce Wireless

Dec 2017How VMware is using AWS to strengthen its cloud offerings, SiliconAngle

Dec 2017 Barefoot Networks Plunges Into Network Monitoring, SDxCentral

Dec 2017StorageNewsletter » SolarWinds MSP: RMM Platform Integration of Backup Documents, StorageNewsletter

Dec 2017Softchoice, Lenovo and VMware Award 10 Deserving Schools with Power Up Technology Grants, Business Wire

Dec 2017Silver Peak Surpasses 600 SD-WAN Customer Deployments Worldwide, Business Wire

Dec 2017VMware Fires On All Cylinders: NSX, vSAN, Compute Add To Growth While AWS, VeloCloud Opportunities Take Shape, CRN

Dec 2017 Analysts make VMware adjustments after earnings, Seeking Alpha

Nov 2017xG Technology to Develop Interference Mitigation Platform for DARPA Program, ExecutiveBiz

Nov 2017Radisys Secures $5 Million Order from Large Asian Customer, Business Wire

Nov 2017 AirWatch/VMware Assigned Patent, StorageNewsletter

Nov 2017 VMware : beats Street 3Q forecasts, 4-Traders

Nov 2017 VMware Reports Fiscal 2018 Third Quarter Results, Marketwired

Nov 2017 Artemis CEO to Step Down, Business of Fashion

Page 134: Tracxn - 5G Enablers Startup Landscape

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Contents

Feed Summary

Investment Trend

Key Markets

Exit Outlook

Investors

News

Appendix

134

Explore more on Tracxn Platform

Index of Top companies by Market

Funded Deadpooled Companies

Page 136: Tracxn - 5G Enablers Startup Landscape

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Explore more on Tracxn Platform

136

Companies

Companies Covered

Unicorns

Public Companies

Acquired Companies

Funded Companies

Investment Trends

Recent Investments

Mega Investments

Investment Trend

Markets

BlueBox

Taxonomy

News

Key News

Recent News

Company Stage

Angel Funded

Seed Funded

Early Stage (Series A/B)

Late Stage (Series C+)

Acqui-hires

DeadPooled

Investors Acquirers

Unicorn Investors

Most Active Investors

Most Active VC &PE Investors

Portfolio of Top Investor

Most Active Acquirer

5G Enablers > Appendix > Explore Sector on Tracxn Platform

Page 137: Tracxn - 5G Enablers Startup Landscape

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Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in 5G Enablers

Index of Top companies by Market (1/8)

137

5G Enablers > Appendix > Index of Top companies by Market

Radio Access Network (RAN)

Self-Organized Network (SON)

Actix (1981, London, $76.1M)Mobile network analytics and optimizationStage: Acquired

Summit Partners

Cellwize (2012, Tel Aviv, $14.5M)Self Organizing Network solution providerMinicorn. Stage: Series A

Viola Group, Vintage Investment Partners, Altair Capital

Intucell (2008, Ra'anana, $8.5M)Software platform for SON (Self Optimizing Network).Stage: Acquired

Bessemer Venture Partners, Genesis Partners

Mobile Edge Computing (MEC)

Qwilt (2010, Hod Hasharon, $65.1M)Open caching and video delivery platform at mobile edgeSoonicorn. 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 edgeSoonicorn. Stage: Series C

New Venture Partners, Bessemer Venture Partners, NexStar Partners and 1 Other Investors

Anova Data (2007, Westford, $5.4M)Real time intelligence at the radio edgeMinicorn. Stage: Series A

Jump Capital, Voyager Capital, North Bridge and 4 Other Investors

Cloud RAN (C-RAN)

Altiostar (2011, Tewksbury, $199M)Virtualized RAN & NFV solutions providerSoonicorn. Stage: Series E

Cisco Investments

SpiderCloud (2007, San Jose, $136M)Scalable Multi-Access Small Cell SystemsSoonicorn. Stage: Acquired

Charles River Ventures, Matrix Partners, Opus Capital and 3 Other Investors

Parallel Wireless (2012, Nashua)Virtual gateway, small cells, and cloud RAN solutions providerMinicorn. Stage: Funded

Floodgate Fund

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Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in 5G Enablers

Index of Top companies by Market (2/8)

138

5G Enablers > Appendix > Index of Top companies by Market

Radio Access Network (RAN)

Spectrum Efficiency

Federated Wireless (2013, Arlington, $69M)Saas based spectrum efficiency solutions providerSoonicorn. Stage: Series B

Charter Communications, American Tower, ARRIS and 3 Other Investors

Kumu Networks (2011, Sunnyvale, $45.4M)Spectrum efficiency using full-duplex technologySoonicorn. Stage: Series C

Verizon Ventures, Deutsche Telekom, New Enterprise Associates and 7 Other Investors

Mobixell Networks (2000, Raanana, $39M)Mobile internet optimization solutionsStage: Acquired

Azini Capital Partners, Escalate Capital, Intel Capital and 7 Other Investors

Spectrum Efficiency

Cohere Technologies (2013, Santa Clara, $35M)OTFS based wireless connectivitySoonicorn. Stage: Series C

Lightspeed Venture Partners, AME Cloud Ventures, Macquarie SBI Infrastructure Management and 5 Other Investors

Unwired Planet (1994, Redwood City, $33M)Context aware mediation and messaging solutionsIPO Date - Mcap -IPO Mcap -- - P/E -

Flash Networks (1996, Herzliya, $32.2M)Internet optimization and monetization solutions.Soonicorn. Stage: Series C

Viola Group, The Challenge Fund-Etgar, Evergreen Venture Partners and 15 Other Investors

Spectrum Efficiency

Cognio (2000, Germantown, $24.5M)Spectrum Intelligence ProviderStage: Acquired

ABS Ventures, Avansis Ventures, North Bridge

Blue Danube Systems (2006, San Francisco, $23.9M)Wireless Access Solutions to increase capacity.Minicorn. Stage: Series B

Northgate Capital, Sequoia Capital, AT&T

Radisys (1987, Hillsboro, $18M)Wireless infrastructure solutionsIPO Date Oct 1995 Mcap $33MIPO Mcap -NASDAQ RSYS P/E -

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Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in 5G Enablers

Index of Top companies by Market (3/8)

139

5G Enablers > Appendix > Index of Top companies by Market

Radio Access Network (RAN)

Spectrum Efficiency

GenXComm (2016, Austin, $9.3M)Full-duplex based wireless backhaul solutions providerMinicorn. Stage: Series A

Intel Capital, Azure Capital Partners, Bandgap Ventures and 3 Other Investors

RED Technologies (2012, Paris)Dynamic spectrum sharing and SON solutions providersEditor's Pick. Stage: Funded

CapDecisif Management

ISCO International (1989, Schaumburg)Spectrum conditioning solutions providerIPO Date Jul 2002 Mcap $10.5MIPO Mcap -AMEX ISO P/E -

Spectrum Efficiency

xG Technology (2002, Sarasota)Radio technology enabling Spectrum sharingIPO Date Jul 2011 Mcap $22.8MIPO Mcap $62.8MNASDAQ XGTI P/E -

Antenna

Pivotal Commware (2016, Bellevue, $17M)Software-defined antenna providerMinicorn. Stage: Series A

Thermo Companies, DIG Investment, Bill Gates and 2 Other Investors

Movandi (2016, Newport Beach, $9M)5G antenna solutions with beamforming technologyMinicorn. Stage: Series A

Sierra Ventures

Metawave (2017, Palo Alto, $7M)Smart radar and 5G antenna systems providerMinicorn. Stage: Seed

Thyra Global, Khosla Ventures, Motus Ventures and 6 Other Investors

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Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in 5G Enablers

Index of Top companies by Market (4/8)

140

5G Enablers > Appendix > Index of Top companies by Market

Radio Access Network (RAN)

Antenna

Plasma Antennas (2000, Winchester)Semi-custom selectable multi-beam smart antennas providerEditor's Pick. Stage: Funded

Oxford Technology

Terabit Radios (2012, Milpitas)Wireless backhaul equipment providerEditor's Pick. Stage: Series A

Camp One Ventures

Core Network

Software Defined Networking (SDN)

Barefoot Networks (2013, Palo Alto, $155M)High-speed programmable switchesSoonicorn. Stage: Series C

Tencent, Alibaba, Goldman Sachs and 8 Other Investors

Big Switch Networks (2010, Mountain View, $147M)Software Defined Network Control FabricSoonicorn. Stage: Series D

Dell Technologies, Silver Lake, Index Ventures and 10 Other Investors

Viptela (2012, San Jose, $109M)Providing Secure Extensible NetworksEditor's Pick. Stage: Acquired

Sequoia Capital, Redline Capital Management, Northgate Capital and 1 Other Investors

Software Defined Networking (SDN)

Virtela Communications (2000, Greenwood Village, $105M)Virtual Overlay Network ServicesEditor's Pick. Stage: Acquired

Norwest Venture Partners, New Enterprise Associates, Palomar Ventures and 4 Other Investors

Blue Planet (2006, Hanover, $97.6M)Multi-Vendor network managementStage: Acquired

Azure Capital Partners, Norwest Venture Partners, Tenaya Capital and 5 Other Investors

Cyan (2006, Petaluma, $97.5M)Optical transport equipment and SDN platform providerStage: Acquired

Juniper Networks, Meritech Capital Partners, Focus Ventures and 5 Other Investors

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Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in 5G Enablers

Index of Top companies by Market (5/8)

141

5G Enablers > Appendix > Index of Top companies by Market

Core Network

Software Defined Networking (SDN)

Pluribus Networks (2010, Palo Alto, $92.5M)Network virtualizationSoonicorn. Stage: Series D

Temasek, Ericsson, Newtech Technology and 8 Other Investors

Cumulus Networks (2009, Mountain View, $86M)Linux operating system for networking hardwareSoonicorn. Stage: Series C

Andreessen Horowitz, Battery Ventures, Sequoia Capital and 3 Other Investors

Plexxi (2010, Cambridge, $83.4M)Affinity networking servicesSoonicorn. Stage: Series D

GV, Lightspeed Venture Partners, Matrix Partners and 2 Other Investors

Software Defined Networking (SDN)

Console Connect (2011, Santa Clara, $65M)Global software-defined IXP providerSoonicorn. Stage: Series B

Formation 8, New Enterprise Associates, AME Cloud Ventures and 6 Other Investors

Versa Networks (2012, Cupertino, $57.4M)SD-WAN and SD-Security solutions based on NFVSoonicorn. Stage: Series B

Verizon Ventures, Sequoia Capital, Mayfield and 2 Other Investors

Luminate Wireless (2013, Cupertino, $48M)Cloud-enabled Mobile Network ConnectionSoonicorn. Stage: Series B

Sequoia Capital, New Enterprise Associates, Qualcomm and 4 Other Investors

Software Defined Networking (SDN)

VeloCloud (2012, Mountain View, $48M)Cloud Based WAN OptimizationSoonicorn. Stage: Acquired

Hermes Growth Partners, Khazanah Nasional, New Enterprise Associates and 7 Other Investors

Talari (2004, San Jose, $45.3M)Creating WAN by aggregation of private connectionsSoonicorn. Stage: Series D

Square 1 Bank, Menlo Ventures, Silver Creek Ventures and 2 Other Investors

Pertino (2011, Los Gatos, $28.9M)VPN to the power of the cloudStage: Acquired

Norwest Venture Partners, Lightspeed Venture Partners, Icon Ventures and 1 Other Investors

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Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in 5G Enablers

Index of Top companies by Market (6/8)

142

5G Enablers > Appendix > Index of Top companies by Market

Core Network

Software Defined Networking (SDN)

Cenx (2009, Jersey City, $27M)Lifecycle Service Orchestration (LSO) for SDN & NFVSoonicorn. Stage: Series D

Mistral Ventures, VMware, Highland Capital Partners and 7 Other Investors

ConteXtream (2006, Petah Tikva, $23.8M)Carrier grade SDN solutionStage: Acquired

Comcast Ventures, Verizon Ventures, Benhamou Global Ventures and 3 Other Investors

Pareteum (2001, Barcelona)SDN and NFV based mobile core network platform providerIPO Date Jan 2011 Mcap -IPO Mcap -NYSEMKT ETAK P/E -

Software Defined Networking (SDN)

Corsa (2011, Ottawa, $20.7M)Data Plane Solutions for SDNMinicorn. Stage: Series B

Roadmap Capital, Celtic House Venture Partners, BDC Capital

Pica8 (2009, Palo Alto, $20M)Software Defined Network OS and SwitchesMinicorn. Stage: Series B

VantagePoint Capital Partners, CROSS HEAD, Mitsui Global

Sedona Systems (2014, Ra'anana, $19.6M)Real Time Network Layer MonitoringMinicorn. Stage: Series B

Intel Capital, Bessemer Venture Partners, NexStar Partners and 2 Other Investors

Software Defined Networking (SDN)

Contrail Systems (2012, Santa Clara, $10M)Controller for SDNStage: Acquired

Khosla Ventures

Wimark (2014, Moscow, $16.5k)Software-defined wi-fi network management solutions providerEditor's Pick. Stage: Seed

Startupbootcamp, Skolkovo Foundation

Multapplied Networks (2008, Chilliwack)Bonded internet and white-label platform to deploy SD-WANSoonicorn. Stage: Series C

Madison Partners

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Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in 5G Enablers

Index of Top companies by Market (7/8)

143

5G Enablers > Appendix > Index of Top companies by Market

Core Network

Software Defined Networking (SDN)

Argela Technologies (2004, Maslak)Networking solutions with focus on 5G enabling technologiesEditor's Pick. Stage: Acquired

Sanko

UBiqube (2006, Dublin)Network and security orchestration solutions providerEditor's Pick. Stage: Series A

Fujitsu, NTT Docomo Ventures, Fortinet

Arista (2005, Santa Clara)Software driven Cloud networking solutionsIPO Date Jun 2014 Mcap $16.6BIPO Mcap $2.7BNYSE ANET P/E 47.07

Insieme Networks (2013, California)Hardware based response to SDN & NFVStage: Acquired

Network Function Virtualization (NFV)

VMware (1998, Palo Alto, $388M)Virtualization SoftwareIPO Date Aug 2007 Mcap -IPO Mcap -- NYSE:VMW P/E -

Affirmed Networks (2010, Middlesex, $117M)Mobile network virtualization solutionSoonicorn. Stage: Series C

Bessemer Venture Partners, Charles River Ventures, Matrix Partners and 3 Other Investors

Midokura (2010, Tokyo, $44M)Network Virtualization leveraging existing physical infrastructureSoonicorn. Stage: Series B

Simplex, Innovation Network Corporation of Japan, Fujitsu and 4 Other Investors

Network Function Virtualization (NFV)

Nicira (2007, Palo Alto, $43.4M)Network Virtualization platform for SDDCUnicorn. Stage: Acquired

Lightspeed Venture Partners, New Enterprise Associates, Andreessen Horowitz

Embrane (2009, Santa Clara, $41M)Platform for virtual network servicesStage: Acquired

Presidio Ventures, Lightspeed Venture Partners, New Enterprise Associates and 2 Other Investors

Vyatta (2005, Belmont, $40.6M)Network virtualization softwareStage: Acquired

HighBar Partners, JPMorgan Chase & Co., ArrowPath Venture Partners and 5 Other Investors

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Index of Top companies by Market (8/8)

144

5G Enablers > Appendix > Index of Top companies by Market

Core Network

Network Function Virtualization (NFV)

PLUMgrid (2011, Sunnyvale, $26.9M)Network virtualization for SDNStage: Acquired

Longworth Venture Partners, U.S Venture Partners, Qualcomm Ventures and 3 Other Investors

TiBit Communications (2014, Petaluma, $13.8M)Modules to virtualize access network using optical switchesMinicorn. Stage: Series A

Core Network Dynamics (2013, Berlin)Mobile core network solutions providerEditor's Pick. Stage: Funded

Fraunhofer Venture

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Funded Deadpooled Companies

145

Excludes all details for Chinese companies

5G Enablers > Appendix > Funded Deadpooled Companies

View all 3 Deadpooled companies on Tracxn Platform

Funding Company Location

$21.7M Netsocket Plano

$3.8M Socowave Dublin

$3M Accelera Santa Clara

Index of Deadpooled companies in 5G Enablers

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Pradeep NairResearch Manager

Mukul Aggarwal Lead Analyst

Team

146

For research queries write to us at [email protected]

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