Why we invested in Sitenna, connecting mobile providers with real estate assets

Wireless carriers rolling-out 5G networks rely on the deployment of cell towers and antennas to provide coverage. Deploying the high number of new antennas needed for 5G is a time-consuming process that includes everything from identifying suitable sites to negotiating contracts with land and building owners. 

It can take up to 24 months to complete the deployment. The typical process consists of three months for an agent to deliver a site evaluation report, 12 months for a radio planner to assess the sites, and nine months to negotiate the contracts.  

Now, Sitenna has a developed solution for reducing the site selection and deployment cycle. The company’s platform makes it easy for wireless carriers to search, locate, and acquire new antenna sites using a map overlay. Sitenna facilitates stakeholder collaboration and management of site deployment, including option assessment, contract negotiations, and payments. It also helps infrastructure providers drive colocation on their assets, speeding up the sales process for towers and neutral hosts.

Sitenna’s platform promises to reduce both the time and cost involved in deploying 5G infrastructure.We think the company is positioned to grow as demand for 5G and mobile edge computing infrastructure increases. Compared to 4G networks, 5G coverage requires almost 20-times higher density of site deployments to deliver the expected performance. We invested in Sitenna’s $2.1 million seed round because their platform will help accelerate a long overdue digital transformation of the antenna site procurement process. Other investors in the Irish start-up’s seed round include Y Combinator, and Merus Capital.

Sitenna launched with a pilot program in the United Kingdom, and plans to use part of its new investment capital to expand into the United States. Initially, Sitenna’s cloud-based platform and marketplace will focus on meeting the demand created by the expansion of 5G networks. 

In order to execute its vision, Sitenna will need to rapidly increase its geographic coverage. But growth should come quickly if the company is able to reduce antenna deployment times from 24 months to six months.

We are confident that Sitenna’s co-founders have the knowledge and expertise needed to transform this legacy industry. Both founders have expertise in the telecommunications sector, including engineering, strategy, mergers and acquisitions, and consulting. CEO Daniel Campion has worked as a strategy and finance consultant at Orange, Aetha, and KPMG. CTO Brian Sexton was a technical consultant at Norkom, Ericsson, and BAE Systems.

The challenge ahead is to quickly attract mobile operators, tower owners, and real estate owners to Sitenna’s platform. By streamlining the entire process of deploying and leasing antennas, Sitenna promises to eliminate numerous legacy steps that constrain growth. We think aggregating the entire process into a single platform – while reducing costs and time to deployment – will incentivize stakeholders to use the platform.  

Moreover, by providing solutions for maintenance and management, Sitenna will continue to facilitate engagement with  stakeholders after an antenna is deployed. That should provide a diversified source of revenue through the entire lifecycle of a contract.

Sitenna also has potential to broaden its market with services for private 5G and enterprise networks. The company’s vision for becoming the go-to portal for  cellular and edge computing infrastructure is ambitious. But we think they’re building a much-needed solution for the 5G marketplace.

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. 

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