Fastback Networks Raises $15 Million
Fastback Networks is a company that delivers innovative technology for mobile infrastructure and enables network operators to deliver new services. Fastback’s radio technology makes it possible to transfer mobile data at very fast speeds. According to VentureBeat, Fastback has raised $15 million in funding led by Matrix Partners with participation from existing investors Foundation Capital, Granite Ventures, and Juniper Networks.
Based in San Jose, California, Fastback can deliver on technology that can make the functionality of small cells efficient for network operators. There are currently 5 million macrocells, also known as fiber-connected cell sites, that can handle the world’s voice and data traffic. The small cells are able to offload the work that is conducted by the macrocells. Fastback can offer a connection between macrocells and small cells.
What are small cells?
Small cells are radio access nodes that do not require much power. The nodes operate in both licensed and unlicensed spectrum that have a range at between 10 meters and 2 kilometers. Mobile macrocells generally have a range of tens of kilometers. Supporting the growth of mobile data traffic can be challenging for mobile operators, so many of them are employing offloading techniques as a way to efficiently handle the radio spectrum.
Following the investment, Stan Reiss of Matrix Partners has joined Fastback’s board of directors. “I saw the technology required to make small cells possible, and that drove me to these guys, who have the best mousetrap,” said Reiss in an interview with VentureBeat.
Fastback previously raised $11 million in funding back in 2011. The company exited stealth mode in February and they currently have 35 employees. The company is led by CEO Kevin Duffy. Duffy used to be CEO of a wireless broadband company called Proxim. He co-founded Fastback with Kevin Negus in 2010. Negus is the CTO and chairman of Fastback . Previosly Negus was the chairman of WeDeFi and CTO of Proxim.