Pronto Bags $5m in First Round
Date: Friday , February 28, 2003
Pleasanton, CA based Pronto Networks has secured $5 million in its first round of funding from Draper Fisher Jurvetson and the Intel Communications Fund. The provider of wireless infrastructure solutions for Wi-Fi hot spots will use the funding to accelerate Pronto's product development and expand sales and marketing activities, particularly in Asia Pacific.
“Pronto Networks has developed an end-to-end infrastructure solution for supplying high-speed, wireless Internet access in public areas,” says Jasbir Singh, CEO of Pronto Networks. “We are looking forward to scaling our operations and expanding our presence overseas.”
Pronto’s core technology, Hotspot Networking System, is exclusively designed for the public access market. The system’s back-end Operations Support System and Business Support System (OSS/BSS) software enables mobile carriers and other large service providers to build out their own Wi-Fi networks. The OSS/BSS software handles all authentication, billing, credit card processing, pre-paid card generation and roaming settlement for Wi-Fi networks, and remotely manages and updates intelligent access points, such as Pronto’s Hotspot Controller and other third party devices, in the field.
“We’re very excited about Pronto’s prospects and plans for international expansion,” said Andreas Stavropoulos, a Director at Draper Fisher Jurvetson. “Pronto has an impressive, end-to-end solution for the public Wi-Fi market and is well-positioned to take advantage of the tremendous growth expected for this market.”