Telecom Transport Management closes series D Funding
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Seattle: Telecom Transport Management (TTM), a provider of advanced voice and data transport backhaul solutions for wireless carriers, today announced the close of a Series D equity funding package totaling $120 million. The transaction, led by new investors Columbia Capital and Battery Ventures, brings an immediate infusion of $55 million into the company and provides a follow on opportunity for the investors to purchase an additional $65 million of equity. TTM will use the funds to continue to build out its TDM and Ethernet backhaul networks for wireless carriers in the U.S. "TTM saw a need for cost-effective backhaul alternatives for wireless carriers who are investing billions of dollars to expand the capabilities of their networks in the U.S.," said Jay Markley of Columbia Capital. "TTM boasts one of the strongest executive teams in the wireless industry, with founders who have tremendous experience in wireless industry technology, business development and sales." Along with Columbia Capital and Battery Ventures, the new investors in the round included DCM and Highside Capital Management. They join current investors SeaPoint Ventures, Ignition Partners, Trilogy Equity Partners and Rally Capital, LLC all of which participated in the Series D round as well. TTM has raised $72 million through four rounds of funding to date. "As a result of their decades of experience in the wireless industry, the executive team and board of directors have strong connections to and understanding about U.S wireless carriers," said Steve Hooper, TTM board chairman and partner with Ignition Partners. Jay Markley of Columbia Capital, Matt Niehaus from Battery Ventures, and Andrew Sinwell from Highside Capital Management will join Hooper, Hamilton and current directors Don Guthrie from Trilogy Partners and Dennis Weibling from Rally Capital on TTM?s board.