Cradlepoint

Deal Snapshot

Company: Cradlepoint, Inc.

Website: www.cradlepoint.com

Sector / Category: Enterprise networking / wireless WAN / edge connectivity

Headquarters: Boise, Idaho

Founded: 2006I

nvestor: Frazier VC

Investment Vehicle: Fund I

Deal Type: Secondary purchases

Company Overview

Cradlepoint provides wireless WAN and edge networking solutions that help enterprises and public-sector organizations connect branch locations, vehicles, IoT deployments, and remote sites using cellular connectivity. The company became known for cloud-managed networking infrastructure built for distributed environments where reliability, mobility, and rapid deployment matter.

Public Funding / Capital Events

2010 — $10M Series A Public reporting indicates Cradlepoint raised a $10 million Series A round in 2010 from Olympic Venture Partners and Mercato Partners. That financing helped support the company’s move deeper into enterprise wireless networking.

Apr 13–14, 2015 — $48M Series B growth equity Cradlepoint raised $48 million in Series B financing led by Sorenson Capital, with participation from Delta-v Capital and Caprock Group. The company said the capital would support international expansion, cloud platform growth, and potential acquisitions.

Mar 9, 2017 — $89M Series C Cradlepoint announced an $89 million Series C round led by TCV. The company positioned the funding around enterprise demand for next-generation wireless WAN, cloud, and IoT connectivity.

Sep 18, 2020 — Agreed acquisition by Ericsson for $1.1B Ericsson announced it would acquire Cradlepoint for $1.1 billion in cash to expand its 5G enterprise offering. The deal framed Cradlepoint as a leader in Wireless Edge WAN 4G and 5G enterprise solutions.

Nov 2, 2020 — Acquisition completed Ericsson completed the acquisition and said Cradlepoint would continue operating under its existing brand. The transaction positioned Cradlepoint within Ericsson’s enterprise wireless strategy.

Investment Summary

Frazier VC invested in Cradlepoint through Fund I via secondary purchases in March 2014 and October 2014.

Why We Invested

Cradlepoint operated in a category with strong long-term growth tailwinds as enterprises shifted toward distributed workforces, mobile infrastructure, IoT deployments, and always-on connectivity. Its combination of hardware, cloud management, and carrier-integrated networking created a more embedded solution than a simple point product, which increased stickiness and raised switching costs over time. The company also appeared to occupy a differentiated position in wireless WAN at a time when enterprise-grade cellular networking was becoming more strategic. Its later funding history and eventual acquisition by Ericsson reinforced the value of that market position.

Other Investors

• Olympic Venture Partners

• Mercato Partners

• Sorenson Capital

• Delta-v Capital

• Caprock Group

• TCV