Cradlepoint Gets Backing From Highway 12 Ventures

Boise, Idaho-based Cradlepoint, a developer of 3G/4G wireless broadband routers, has raised a round of funding from Highway 12 Ventures. According to Highway 12, the funding was actually made early in 2009; amount of the investment was not disclosed. A regulatory filing from the firm last year indicates it had raised $350,000 as part of a $2.0M funding round; it's unclear how much of that round has been funded. Cradlepoint was founded by Pat Sewall, Ryan Adamson and Gary Oliverio. The firm's products are being used by WiMax broadband provider Clearwire. More information »