Pivotal Commware Funding, Investors & Competitors

Pivotal Commware has raised $191M across 4 funding rounds, most recently a $102M Series D in August 2023.

Last Pivotal Commware funding round

$102M

Series D · Aug 2023

Cumulative funding Pivotal Commware raised

$191M

across 4 funding rounds

Key investors in Pivotal Commware

  • Lux Capital
  • Thermo Companies
  • Bill Gates
  • Tracker Capital Management
  • DIG Investments
  • Verizon Ventures
  • Jaws Ventures
  • Fortress Investment Group

Pivotal Commware Overview

About Pivotal Commware

Pivotal Commware is a Kirkland, Washington-headquartered pioneer in holographic beamforming for software-defined antennas and radios. The technology generates multiple simultaneous beams on millimeter-wave frequencies for 5G fixed wireless and private LTE networks without interference. Pivotal Commware deploys eMIMO systems for urban broadband and enterprise connectivity in North America.


Founded

2016

HQ

United StatesSeattle, WA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Pivotal Commware Funding History

Pivotal Commware has raised a total of $191M across 4 funding rounds.

Pivotal Commware's first fundraising round was a $17M Series A in June 2017. The most recent completed round was a $102M Series D in August 2023.

Pivotal Commware funding rounds

Pivotal Commware funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2023Series DGates Frontier Fund (lead); Tracker Capital Management (lead); DIG Investment; Lux Capital; Thermo Companies; Devonshire Investors; Verizon Ventures; Blue Investment Group; Fortress Investment Group$102MPivotal Commware is a Bothell, Washington-based company specializing in 5G mmWave infrastructure products, including Pivot 5G repeaters that extend wireless coverage for radio access networks, particularly for fixed wireless access (FWA) applications. Co-founded by Duke University Professor David Smith, the company positions itself as a global leader in mmWave technology to help mobile network operators (MNOs) expand broadband coverage in a market valued at $100 billion in the US alone. On August 17, 2023, Pivotal Commware closed a $102 million Series D funding round led by Gates Frontier Fund and Tracker Capital Management, with co-leads from funds affiliated with Fortress Investment Group and Blue Investment Group. Citigroup served as the exclusive placement agent. The capital is earmarked to accelerate mmWave FWA rollout through investments in Pivotal Turnkey, develop next-generation software and hardware products, and support operations amid rising customer demand for high-capacity mmWave frequencies. Media coverage from Fierce Wireless, Light Reading, and others highlighted the round's focus on meeting MNO demand for mmWave FWA, positioning Pivotal as a key player in telecom infrastructure amid growing data needs. Quotes from CEO Brian Deutsch and investor Dr. Shaygan Kheradpir emphasized the company's role in enabling MNOs to capture broadband market share.
Feb 2021Series CTracker Capital Management (lead); DIG Investments; Lux Capital; Bill Gates; Thermo Companies$50MPivotal Commware, a Kirkland, Washington-based company specializing in 5G mmWave infrastructure products, closed a $50 million Series C funding round on February 11, 2021, led by an affiliate of Tracker Capital Management. Existing investors including DIG Investment, Thermo Companies, Lux Capital, and Bill Gates participated, alongside new investor Devonshire Investors affiliated with Fidelity Investments. The round converted a prior $10 million bridge note from 2019, bringing total funding to approximately $90 million across prior Series A ($17 million in 2017), Series B ($22 million in 2018), and the debt round. At the time, the company had about 100 employees. The funding supports expansion of product support, distribution, and R&D for Pivotal's mmWave product ecosystem, including WaveScape network modeling tool, Pivot 5G outdoor network repeaters, Echo 5G indoor subscriber repeaters, and Intelligent Beam Management System. Proceeds will also extend products into mid-band frequencies such as C-Band, CBRS, and Band n53. Pivotal's holographic beam forming technology, based on metamaterials spun out from Intellectual Ventures in 2017, enables rapid, cost-effective deployment of high-value 5G networks, positioning it as a key player in ultra-wideband mmWave and fixed wireless services. CEO Brian Deutsch highlighted the telecom industry's evolution with mmWave as a game-changer, while COO Chris Brandon noted the capital would establish Pivotal as a significant global 5G infrastructure provider. Tracker Capital founder Stephen A. Feinberg, linked to Cerberus Capital Management, brought telecom expertise. Shaygan Kheradpir, former Verizon CIO and Juniper Networks CEO, joined the board.
Sep 2018Series B-$22MPivotal Commware is a telecommunications technology company specializing in holographic beamforming technology for 5G mmWave infrastructure, enabling improved wireless coverage through flat-panel antennas. Around late 2018, the company was conducting an ongoing Series B funding round, having raised $14.7 million to $14.75 million from four investors as of early October, with a target of $20 million according to SEC filings. The round remained open due to interest from strategic investors engaged commercially with the company. This followed a Series A round of $17 million in 2017 that included investors like Bill Gates, DIG Investment, and Lux Capital. The company, based in the Bellevue/Kirkland/Bothell area of Washington state, was developing beamforming antenna technology to boost wireless communications, particularly for 5G networks. Chief Operating Officer Chris Brandon noted the extended round structure to accommodate progressing strategic investment discussions. Pivotal Commware continued raising capital in subsequent years, including a $50 million Series C in 2021 led by Tracker Capital Management with participation from Devonshire Investors and existing backers like Bill Gates, and a $102 million Series D in August 2023 led by Gates Frontier and Tracker Capital, involving Fortress Investment Group, Blue Investment Group, Verizon Ventures, Lux Capital, and others. These later rounds focused on expanding mmWave fixed wireless access (FWA) products and next-generation software/hardware.
Jun 2017Series AThermo Companies (lead); Jaws Ventures; DIG Investments; Lux Capital; Bill Gates$17MPivotal Commware raised $17 million in its initial Series A funding round on June 16, 2017, led by The Thermo Companies and DIG Investments, with participation from Bill Gates, Lux Capital, the family office of Barry Sternlicht, and others. The company, spun out from Intellectual Ventures' Invention Science Fund, develops communications products using Holographic Beam Forming (HBF) technology based on metamaterials. HBF enables software-defined antennas that focus radio signals dynamically, improving spectral efficiency for 4G and 5G networks with lower cost, size, weight, and power compared to legacy phased array and MIMO technologies. Headquartered in Bellevue, Washington, Pivotal targeted applications for mobile targets like ships, planes, trains, and connected cars. At the time, the company employed about 20 people and planned to double its headcount by year-end to address growing business demand.

Who has invested in Pivotal Commware?

12 investors have backed Pivotal Commware across its funding rounds, including Lux Capital, Thermo Companies, Bill Gates, Tracker Capital Management, DIG Investments and Verizon Ventures.

Lead investors include Gates Frontier Fund, Tracker Capital Management and Thermo Companies.


Pivotal Commware Investors

Investors in Pivotal Commware by funding rounds participated
InvestorHQRoundsRoleFirst check
Lux CapitalUnited StatesNew York City, NY3ParticipantJun 2017
Thermo CompaniesUnited StatesDenver, CO3LeadJun 2017
Tracker Capital ManagementUnited StatesNew York City, NY2LeadFeb 2021
DIG InvestmentsUnited StatesUnited States2ParticipantJun 2017
Bill GatesUnited StatesSeattle, WA2ParticipantJun 2017
Jaws VenturesUnited StatesMiami, FL1ParticipantJun 2017
DIG InvestmentSwedenStockholm1ParticipantAug 2023
Devonshire InvestorsUnited StatesUnited States1ParticipantAug 2023
Verizon VenturesUnited StatesBasking Ridge, NJ1ParticipantAug 2023
Blue Investment GroupPolandWarsaw1ParticipantAug 2023

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Pivotal Commware Competitors

Pivotal Commware competitors include listed companies like Samsung, Cisco, Arista Networks and Amphenol, and private ones like Nexthop AI and Celero Communications.

Public and private companies comparable to Pivotal Commware
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SamsungSouth KoreaSouth KoreaPublicly listed$243B$67B$1.2T2.4x
CiscoUnited StatesUnited StatesPublicly listed$63B$19B$435B6.9x
Arista NetworksUnited StatesUnited StatesPublicly listed$9B$3.9B$252B20.5x
AmphenolUnited StatesUnited StatesPublicly listed$23B$6.9B$193B6.5x
Nexthop AIUnited StatesSan Jose, CAPrivate--$4.2B-
Celero CommunicationsUnited StatesLos Angeles, CAPrivate--$3B-

Pivotal Commware Public Comps

Pivotal Commware is still privately-owned, but its public comps include Samsung, Cisco, Arista Networks, Amphenol, Foxconn Industrial Internet, Eoptolink, Hewlett Packard Enterprise, Lumentum, Motorola and TE Connectivity.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Samsung$243B$67B4.4x2.4x15.8x4.4x
Cisco$63B$19B7.1x6.9x23.4x17.9x
Arista Networks$9B$3.9B26.5x20.5x60.5x41.7x
Amphenol$23B$6.9B9.0x6.5x30.0x19.8x
Foxconn Industrial Internet$135B$7.7B1.4x0.9x23.8x16.6x
Eoptolink$3.7B$1.7B23.5x12.4x52.4x26.2x
Hewlett Packard Enterprise$34B$2.6B2.8x2.1x36.2x11.0x
Lumentum$3B($6.9B)26.2x21.3x(11.4x)56.6x

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Common questions about Pivotal Commware

When was Pivotal Commware founded?Pivotal Commware was founded in 2016.
Where is Pivotal Commware headquartered?Pivotal Commware is headquartered in Seattle, WA, United States.
Is Pivotal Commware publicly listed?No, Pivotal Commware is a private, VC-backed company.
How much funding has Pivotal Commware raised?Pivotal Commware has raised $191M across 4 funding rounds.
What was Pivotal Commware's last funding round?Pivotal Commware's last funding round was a $102M Series D in August 2023, led by Gates Frontier Fund and Tracker Capital Management.
Who are Pivotal Commware's investors?Pivotal Commware's investors include Lux Capital, Thermo Companies, Tracker Capital Management, DIG Investments, Bill Gates, Jaws Ventures, DIG Investment, Devonshire Investors, Verizon Ventures, Blue Investment Group and 2 others.
Which companies are comparable to Pivotal Commware?Companies comparable to Pivotal Commware include Samsung, Cisco, Arista Networks, Amphenol, Nexthop AI and Celero Communications.

See companies similar to Pivotal Commware

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