Why we invested in Expeto, enterprise private mobile networking
Managing 5G enterprise networks is increasingly complex for companies with large IoT fleets and applications. Complications are magnified as network slicing expands private networks into the cellular infrastructure, and virtual networks are tailored to meet the requirements of specific connected applications.
We invested in Expeto because it simplifies enterprise networking over private and public mobile networks. The Expeto platform abstracts the management complexity of multi-geography, heterogeneous networks (5G, LTE, CBRS) for fleets of connected devices and applications. Samsung Next joined an $12 million Series B round led by Sorenson Capital, an experienced venture investor in the private cellular market.
While 5G’s network slices can be customized to meet the SLA for emerging connected applications, they also bring additional complexities in network management. A network must be able to recognize a unique device, enable a secure connection, and provide access to the resources required while maintaining security of the network and its data. Managing these requirements across a broad geographical deployment introduces significant management overhead due to regionally siloed networks. This requires different control planes for each network, policy synchronization across heterogenous networks, device access, and control between networks.
New connected use cases spanning large geographic regions introduce further complexity when roaming across public and private networks with strict requirements for network quality and performance. The use of 5G network slicing enables virtual networks on shared physical infrastructure to be tuned to specific SLAs to address applications that were impossible on 3G and 4G, opening up new opportunities for enterprise digital transformations.
Network management is made easier thanks to Expeto’s cloud-based platform that enables hybrid private mobile networks for enterprise customers. Expeto enables enterprises to control and manage IoT device assets and fleets over private and public cellular networks across multiple sites via a single console. By enabling unique identification of devices, policy lookup across networks, and a single control plane, companies can manage their disparate enterprise 5G networks as if one logical network, even when roaming between public and private.
The founding leadership team at Expeto has considerable experience in the networking and telecom sectors. CEO Michael Anderson previously served as CEO of NES, general manager of Echelon, and president of Telcordia, a telecom research and development company that was acquired by Ericsson in 2011. Terje Strand, CTO, is a communications software expert and architect of the Expeto platform. His experience includes serving as the CTO of Net4Call, a data software company acquired by Oracle in 2006. Ryley MacKenzie, CSO, was previously founder and CEO of Evoshift. Co-founder Brian Baird was previously CTO at Sasktel, and has experience in information technology architecture, business development, software sales, business analysis.
Expeto’s platform provides broad general applicability across industrial IoT, oil and gas, mining, transportation, logistics, energy, utilities, and healthcare. By not competing with cellular providers, Expeto is uniquely positioned to scale quickly by solving telco customer sales friction and by leveraging its customer base as a distribution channel.
Andy Duong is a Samsung Next Investor. Samsung Next's investment strategy is limited to its own views and does not reflect the vision or strategy of any other Samsung business unit, including, but not limited, to Samsung Electronics.