United Ventures, a technology-focused venture capitalist firm, announced yesterday a 4 million dollars round of financing to support Cloud4Wi’s international expansion (download here the English press release).
Cloud4Wi, a provider of next generation managed Wi-Fi services has already enjoyed huge success in Italy with major telco players, system integrators and vendors having adopted the Cloud4Wi solution to address their customer needs.
Cloud4Wi’s cloud platform allows venues to monetize their provision of Wi-Fi services by leveraging the Cloud4Wi marketplace – the first marketplace of it’s kind in the industry.Firmly positioned as leaders in Italy and with a place on the prestigious 2013 Red Herring Top 100 Europe list, Cloud4Wi’s eyes are now looking at the globe, with a focus on North America. It is growth in North America, in particular, that United Ventures is supporting with its iinvestment. The funding will, in part, assist a strategic new San Francisco-based office and a growing team.
United Venture was born in 2013 as a merger of two well-know venture team: the one led by Massimiliano Magrini (Annapurna ventures) and the one led by Paolo Gnesses (JV Capital). United Ventures also gained support by the Fondo Italiano d’Investimento.