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Pivotal Commware Raises $50M in C Round Led by Tracker Capital Management
[February 11, 2021]

Pivotal Commware Raises $50M in C Round Led by Tracker Capital Management


Pivotal Commware ("Pivotal"), a global leader in 5G mmWave infrastructure products, announced today the closing of a $50 million C round led by an affiliate of Tracker Capital Management, LLC ("Tracker Capital"), a stage-agnostic venture capital investor that principally invests in high-potential technology growth companies. Tracker Capital was founded by Stephen A. Feinberg who is also Co-Founder and Co-CEO of Cerberus Capital Management. Tracker Capital is joined in this round by Devonshire Investors, the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments. Pivotal's existing investors, including DIG Investment, Thermo, Lux Capital and Bill Gates (News - Alert), also participated in the financing.

Pivotal is a leading developer of communications platforms, systems and applications based on Holographic Beam Forming® technology. Mobile network operators use Pivotal's products to cost-effectively deploy 5G millimeter Wave (mmWave) networks for mobile and fixed wireless access (FWA) that accelerate time to revenue.

"As the telecom industry evolves globally, we believe that Pivotal is at the forefront of the next wave of telecom infrastructure providers," said Pivotal CEO Brian Deutsch. "For 5G, ultra-wideband mmWave is the real game changer, and Pivotal has built the complete solution for rapid, cost-effective deployment of these high-value networks. We are extremely pleased to have a partner like Tracker Capital, with its extensive telecom horsepower and expertise that shares our vision for the future of our crucial and rapidly expanding industry."

Pivotal COO Chris Brandon commented: "This capital will allow Pivotal to become significant 5G telecom infrastructure provider on a global stage."



Alongside the investment from Tracker Capital, Dr. Shaygan Kheradpir will join the Board of Directors of Pivotal. He is a senior advisor to Tracker Capital who formerly served as Verizon's Group CIO, Barclays Bank Group COO, and Coriant and Juniper Networks (News - Alert) CEOs.

Dr. Kheradpir commented on the investment from Tracker Capital: "Pivotal has cracked the code for mmWave 5G. Their ecosystem is critical to mobile network operators around the world, and to the future of U.S.-based telecom infrastructure. To deliver on the promise of 5G for industrial internet and immersive web, quantum step improvements in throughput, capacity, latency, and precision are required for the new wave of devices and applications. As the world shifts to mobile edge computing, Pivotal delivers a demonstrable competitive advantage for deploying true 5G applications with dramatically improved efficiency and performance."


Thermo Partner and Pivotal Board member Kyle Pickens added: "Since its inception, Pivotal has benefited from an extremely strong and supportive investor base. With Tracker Capital leading the Series C, we maintain that momentum. Pivotal is seeking to be the U.S.-based leader of 5G technologies. The progress that Pivotal has recently made in mmWave technologies has been impressive, and this capital will be used to turbocharge the company's development."

The new capital raise will be used for the expansion of product support, distribution, and R&D associated with Pivotal's comprehensive mmWave product ecosystem, which includes its WaveScape™ network modelling tool; Pivot 5G™ outdoor network repeaters; Echo 5G™ indoor subscriber repeaters; and Intelligent Beam Management System (IBMS) for remote management and optimization. Capital and cash flow from operations will also be used to extend Pivotal's products and services into mid-band frequencies like the recently auctioned C-Band, CBRS, Band n53 and other upcoming frequency bands.

About Pivotal Commware, Inc.

Pivotal Commware develops communications platforms, systems and applications based on Holographic Beam Forming®. HBF (News - Alert) antenna technology enables network operators to increase network speed, capacity and spectral efficiency using the lowest cost, size, weight and power consumption (C-SWaP) envelope available. The company is privately held and headquartered in Kirkland, Washington. #mmWaveSolved

About Tracker Capital

A venture-focused investor based in New York, Tracker Capital aims to invest in high-potential technologies and companies across various end markets and stages of growth. Tracker Capital was founded by Stephen Feinberg, Co-Founder and Co-Chief Executive Officer of Cerberus Capital Management, L.P., as a separate and independent investment vehicle focused on early-stage investments. In addition to investing resources to fund development, Tracker Capital's venture-oriented platform provides guidance and operational support to entrepreneurs to help transform their ideas, concepts, technologies, and businesses into proven, sustainable organizations.


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