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Kymeta Announces $50 Million in Venture Capital Funding

Kymeta, one of our clients at Communiqué PR, recently closed a $50 Million Series C financing round in order to accelerate the growth of its business. This is not a surprising event if you have been following the company’s path. A beneficiary of Bill Gates and other key backers, Kymeta has been around for less than one year, expects to nearly double its number of employees in the next year and is already receiving high accolades from industry influencers. For example, both CNBC and the MIT Tech Review named Kymeta one of the top 50 Disruptive Companies of 2013, while Gartner lists Kymeta as a Cool Vendor for Automotive for 2013.

Kymeta’s list of successes is already long, but when Communiqué PR began working with the company, it was their leadership that initially got our attention. CEO Vern Fotheringham is known in the telecom and satellite/broadband space in the Northwest, and is someone we worked with years ago when he held the CEO position at Adaptix. We have great respect for Vern and appreciated and enjoyed our experience with him back in 2006. So when he approached Communiqué PR about Kymeta, we were thrilled about the opportunity to work with him again.

Kymeta is an exciting company to watch because it’s disruptive to the communications industry on so many levels. Kymeta Founder and CTO Dr. Nathan Kundtz led the development of new technology and applied it to satellite communications – a sector that had long suffered from stagnant innovation – resulting in a revolutionary change in how satellite communications will work in the future. By using “metamaterials” to develop antennae technology small enough to fit in a backpack, users can access a broadband Internet connection anywhere in the world. The technology essentially eliminates the need for a traditional satellite dish, long known for its unwieldy size, significant expense and sensitivity to weather.

Kymeta’s funding announcement received significant media interest resulting in more than 45 original articles, including some key foreign language coverage in China and Russia. Below we have included links to some of the articles highlighting details about the significance of Kymeta securing its Series C funding and, more broadly, the significance of its technology.