San Francisco-based startup Common Networks has 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.
Common Networks said it 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 claims that its custom routing protocol and distributed monitoring system continuously ensures every customer gets the fastest and most reliable path to the internet.
Lior Susan, Founder and Partner, Eclipse Ventures
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.
Zack Brock, Founder and CEO, Common Networks
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.
