Boise-based tech company announces new round of VC funding

An Idaho-based technology company has announced a new round of funding, thanks to a handful of new venture capitalists.

The American Chronicle reports that CradlePoint Technology recently revealed that it received $7.5 million in venture capital thanks to VP firms including Venture Partners and Highway 12 Ventures. The funding represents the first round of Series B funding for the company, which hopes to increase the pace of growth for the firm.

“When you’re small, in the worst economic times ever, you’ve got to be profitable and grow and make money to survive,” he said.”When you get to this point, it’s always about driving revenue,” Sewall said. “That’s what you use the capital for, to push growth and innovation.”

The firm said that it would use part of the money to hire 27 more employees at its Boise office, and will likely have to move to a larger building as a result.

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Melissa Clark

Head of Content & Customer Marketing at Incfile
Melissa sets the vision for Incfile's content marketing and customer relationship management. Melissa has more than 10 years experience in various marketing roles, and a passion for supporting small businesses as they incorporate and grow. She loves sharing information that will help business owners maximize their LLCs, Corporations and Nonprofits. In her spare time, Melissa is an active member of The Junior League and enjoys running half marathons.
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