HO2 Portfolio Companies Complete Funding Rounds Totaling $22M

May 18, 2004

HO2 Partners, a Dallas-based technology venture capital firm, has announced that two of its portfolio companies, InnerWireless, Inc., and CABC, Inc., recently completed follow-on equity funding rounds totaling $22 million.

InnerWireless of Richardson, Texas, a provider of in-building wireless distribution systems, received $12 million in Series B financing from new investor Johnson Controls, Inc. and the existing investor syndicate, which includes Rho Ventures, Sevin Rosen Funds, TAMC, Ltd., Massey Burch Capital Corp., Genesis Campus, and STARTech Foundation. InnerWireless' In-Building Wireless Utility is designed to enable clear multi-carrier wireless voice and data communication in hospitals, office buildings, shopping malls, campuses, and other high-traffic public places.

Dallas-based CABC, a streaming content delivery provider, completed a $10 million round of equity funding, including $7 million in new capital from two California-based VC firms, WaldenVC and SAP Ventures, and $3 million from the conversion to equity of existing loans from the original HO2-led investor syndicate. CABC delivers digital content, ranging from broadcast quality video to virus patches and software updates, to the PCs of any target audience, regardless of bandwidth or network connections.

(http://www.cabc.com), (http://www.ho2.com), (http://www.innerwireless.net)