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- Pivotal Commware
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
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
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Sectors
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2023 | Series D | Gates Frontier Fund (lead); Tracker Capital Management (lead); DIG Investment; Lux Capital; Thermo Companies; Devonshire Investors; Verizon Ventures; Blue Investment Group; Fortress Investment Group | $102M | Pivotal 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 2021 | Series C | Tracker Capital Management (lead); DIG Investments; Lux Capital; Bill Gates; Thermo Companies | $50M | Pivotal 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 2018 | Series B | - | $22M | Pivotal 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 2017 | Series A | Thermo Companies (lead); Jaws Ventures; DIG Investments; Lux Capital; Bill Gates | $17M | Pivotal 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jun 2017 | ||
| 3 | Lead | Jun 2017 | ||
| 2 | Lead | Feb 2021 | ||
| 2 | Participant | Jun 2017 | ||
| 2 | Participant | Jun 2017 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Participant | Aug 2023 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPivotal Commware Competitors
Pivotal Commware competitors include listed companies like Samsung, Cisco, Arista Networks and Amphenol, and private ones like Nexthop AI and Celero Communications.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $243B | $67B | $1.2T | 2.4x | ||
| Publicly listed | $63B | $19B | $435B | 6.9x | ||
| Publicly listed | $9B | $3.9B | $252B | 20.5x | ||
| Publicly listed | $23B | $6.9B | $193B | 6.5x | ||
| Private | - | - | $4.2B | - | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $243B | $67B | 4.4x | 2.4x | 15.8x | 4.4x | |||
| $63B | $19B | 7.1x | 6.9x | 23.4x | 17.9x | |||
| $9B | $3.9B | 26.5x | 20.5x | 60.5x | 41.7x | |||
| $23B | $6.9B | 9.0x | 6.5x | 30.0x | 19.8x | |||
| $135B | $7.7B | 1.4x | 0.9x | 23.8x | 16.6x | |||
| $3.7B | $1.7B | 23.5x | 12.4x | 52.4x | 26.2x | |||
| $34B | $2.6B | 2.8x | 2.1x | 36.2x | 11.0x | |||
| $3B | ($6.9B) | 26.2x | 21.3x | (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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