Eclipse and Lux lead Series A funding to help new ISP bring SDN-enabled (Software-Defined-Networking) speed and accessibility to suburban neighborhoods
SAN FRANCISCO, CA--(Marketwired - June 15, 2017) - Common Networks, the software-driven wireless internet service provider, today has announced they have raised $7 million in Series A funding from Eclipse Ventures and Lux Capital. The company had previously raised $2.3 million in Seed Round funding in 2016 led by Eclipse. Demonstrated by a successful launch of service to residents of Alameda, Calif., Common Networks delivers high speed last-mile wireless internet access to suburban neighborhoods using software-defined networking (SDN) to manage the network's peer-to-peer architecture and maximize customer performance.
The vast majority of Americans struggle with slow and unreliable internet service, particularly in suburban areas, with 62 percent of households in monopoly broadband markets. The U.S. has an average speed of 15Mbps, a shocking number when you consider that the Federal Communications Commission (FCC) defines less than 25Mbps stream speed to be "unserved" and 25-99Mbps to be "underserved." Common Networks delivers speeds of more than 100 Mbps for a flat fee of $50 per month with no contract necessary. There are no installation or equipment fees and tax is included in the $50.
"Current legacy internet service providers are slow, expensive and unreliable. With the increasing number of connected devices and experiences, the need for a new option in last-mile internet connectivity has grown more apparent," said Lior Susan, Founder and Partner at Eclipse Ventures. "Common Networks' demonstrated groundbreaking yet elegant solution provides high-speed broadband home wireless without the problems of reliability and customer support so pervasive with legacy internet service providers."
Common Networks uses proprietary software to build a strong wireless internet infrastructure without the typically prohibitive cost associated with setting up service in suburban density areas. The technology approach is similar to the software-defined networking methodology used by modern data centers, where complex and intelligent software is layered on top of inexpensive wireless hardware for superior performance and reliability. Common Networks' custom routing protocol and distributed monitoring system continuously ensures every customer gets the fastest and most reliable path to the internet.
"While my previous internet connection was fine, Common's speeds turned out to be faster. And even better, the Common customer service for installation and any maintenance was pleasant, a stark contrast to the teeth-pulling I experience with big providers," said Alameda resident Misha Chellam. "When I moved to Alameda, a friend mentioned that there was this new internet provider I could try. I expected that since it was brand new, I might be trading a bit of reliability for humanness and customer support. As it turns out, I get service that is not only super friendly, but also super reliable."
With a team made up of early employees from payments platform innovator Square, Common Networks has strong roots in solving tough real world problems by combining hardware, software and data. The team is now tackling another legacy industry that hasn't seen much innovation or competition over the last decade.
"The lack of competition has resulted in bad service, poor speeds and overpriced plans. There's a big opportunity, with a $55 billion market residential broadband in the U.S. and tens of millions of unhappy customers. Traditional internet providers have underserved suburban U.S. neighborhoods, putting us woefully behind the rest of the world," said Zach Brock, Founder and CEO at Common Networks. "We see the demand for bandwidth and reliable service continuing to accelerate as we enter an era of connected devices, increased streaming volume, and new technologies like Virtual Reality. We believe it's time for a different approach to delivering reliable, fast, and affordable internet to every household."
About Common Networks, Inc.
Common Networks is a software driven wireless internet service provider based in San Francisco. Founded by Square alumni who spent years building complex hardware and software products together, the company empowers residents of suburban neighborhoods with a simple, affordable, and reliable way to connect to high speed wireless internet. Common Networks, combines smart software, commodity hardware, and automated operational tools to deliver fast and reliable internet access. Founded in 2016, the company has raised $9.3 million in both seed and Series A round funding from Eclipse Ventures and Lux Capital.