Expway, the leading provider of LTE (Long Term Evolution) Multicast Middleware and BM-SC, today announced that it has closed a $3.3 million financing round with a new investor Isatis Capital. This new funding will accelerate Expway’s continued global expansion and investment in LTE Multicast.The funds will help Expway further scale its worldwide expansion through the recently opened office in China, and develop new products for the fast emerging usage of LTE multicast by public safety agencies.
LTE multicast offers faster access to large data and dynamic multicast communications possibilities with improved economies of scale and reliability. The public safety community is quickly embracing LTE-based solutions to provide emergency service access and multicasting capabilities to first responders.
“An increasing variety of applications, from in-stadium broadcasting, to public safety are being implemented using LTE Multicast,” said Thierry Sergent, CEO of Expway. “We’re excited to have the continued backing from our investors who strengthen our ability to sustain our dominant position in these rapidly growing markets”.
Expway has enjoyed on average 50% growth year over year and has been profitable for the last 5 years, and was also recently ranked as one of the leading start-ups in Deloitte’s Technology Fast 500™ EMEA report.
Isatis Capital, a spin-off of BNP Paribas Private Equity, dedicated to investments in SMEs through direct funds will join previous Expway investors: CDC Innovation, a subsidiary of the Group Caisse des Dépôts the largest investment entity in Europe with a portfolio valued at 227 billion euros, iSource and TechFund both focus on early stage venture investments.