High Density Networks Closes a $1 Million Investment Round
* Reuters is not responsible for the content in this press release.
New investment comes from both existing and new investors, Investment will
fund continued market expansion of leading next generation broadband wireless
service provider.
LOS ANGELES, May 11 /PRNewswire/ -- High Density Networks, ("HDN") a leading
provider of WiMAX / Wi-Fi Internet access, single dish High Definition DIRECTV
and digital voice (d-Voice(R)) for multi-dwelling units (MDUs), announced
today it has closed its latest round of financing with $1 million in cash.
HDN will use the proceeds to expand its customer base through organic growth
as it continues to populate its built-out Los Angeles network. The investment
comes from existing investor, Certare Ventures, LLP, as well as from Barry
Pier, the new Chief Executive Officer ("CEO") of HDN. Terms of the investment
were not disclosed.
"This is a critical time in the evolution of the wireless broadband market,
and the proceeds of this round will help us reach our goal of becoming one of
the leading wireless broadband companies," said Barry Pier, CEO of HDN. Pier
added, "We plan to use the proceeds of this round to establish a scalable and
profitable model for expansion within our Los Angeles network. Establishing
these 'proof points' will serve us well as we explore additional market
expansion opportunities. We are pleased to have participation from our
existing investors who have a successful track record and their continued
interest validates our view that HDN is taking the lead in a market space with
tremendous growth potential."
HDN is currently pioneering the development of fixed wireless networks
utilizing a combination of building rooftops and wireless in-building systems.
HDN delivers high-speed Internet access with symmetrical upload and download
speeds that surpass cable and phone company offerings. HDN's current network
addresses over 150,000 units in the Los Angeles market.
About High Density Networks:
High Density Networks, Inc. (HDN) is one of the largest service providers of
WiMAX / Wi-Fi, DIRECTV and digital voice for multi-family communities,
commercial office buildings and municipalities. HDN provides high speed
wireless Internet (starting at $29.99 with speeds up to 7.5Mbps), DIRECTV
($29.99) and Digital Voice d-Voice(R) ($24.99). Bundle discounts and private
label bulk rate services are available from HDN. For commercial use, HDN
provides up to 100 Mbps and enterprise digital voice services to small and
medium size businesses (SMB). For more information, please visit hdn.net.
SOURCE High Density Networks, Inc.
Barry Pier, CEO of High Density Networks, Inc., +1-303-915-3375,
barry@hdn.net
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