Boingo Wireless Inc., the world’s leading wholesale network aggregator and operator of neutral-host Wi-Fi networks; recently announced the closing of its Series C funding.  The company raised $65 million from new and existing investors to secure long-term working capital and to underwrite the recent acquisition of Concourse Communications.

With the largest aggregated Wi-Fi network in the world, coupled with best-in-class software solutions for both laptops and portable devices, Boingo helps carriers and ISPs keep their customers connected with a high-quality broadband wireless connection. More information about Boingo is available

Mitsui & Co. Lead this round of investment, and two new investors, Steelpoint Capital Partners and Red Rock Ventures Join Existing Investors in Oversubscribed Round of Funding.

Boingo previously raised more than $30 million in its Series A and Series B fundings.

“Our progress as a company and the value we’ve created over the last few years has been validated by the private equity markets through a significant up-round that was oversubscribed,” said David Hagan, President and CEO of Boingo Wireless.  “The funding we’ve raised will allow us to strengthen our position as a global brand leader in Wi-Fi, and take advantage of new opportunities that we believe will surface in this dynamic market sector.”

Other new investors include Steelpoint Capital Partners and Red Rock Ventures.  Roy Thiele-Sardiña, Managing Director of Steelpoint, will join the Boingo Board of Directors.

“Boingo has been one of the strongest investments in our venture portfolio, and it continues to be an attractive investment opportunity as it enters the growth-capital stage,” said Mark Kawahara, Head of Silicon Valley Office of Mitsui & Co. Venture Partners, an existing investor. “Mitsui’s management saw an opportunity to enhance this investment by leveraging our extensive business experience across Asia to help Boingo further increase its value as it expands in this vital region.”
 
"Boingo is a performer," said Peter Barris, Managing General Partner of New Enterprise Associates.  "They focus on hitting their numbers, and the expansion of the business through the Concourse acquisition made re-investment in the company a priority for us."

Boingo used a portion of the Series C money to fund the acquisition of Concourse Communications Group, which was announced earlier this year.  The rest of the funding will provide working capital to strengthen the company’s balance sheet and provide funds for future growth.  This is expected to be Boingo’s final private equity funding.