ThinkRF Corp announced that it has raised $5 million in additional funding to capture a significant share of the spectrum analyzer market, which is expected to reach $1.75 billion by 2022.
“We are pleased to have achieved this key funding milestone, enabling us to further disrupt the market,” said Jim Roche, president and CEO of ThinkRF. “This funding builds on our recent momentum, including our collaboration with Keysight Technologies, the world’s leading electronic measurement company, which opens new opportunities for our products.”
Existing investor Wesley Clover International, one of the leading technology investment and management firms in Canada and beyond, led the financing round and was joined by new private investors. The money will be used by ThinkRF to execute the next phase of the company’s business strategy, which includes expanding into key new geographic and vertical markets.
“As a leading innovator in the spectrum analysis market, ThinkRF is one of the first companies to market with a product supporting 5G, the next generation of telecommunications standards for mobile and wireless networking” said Terry Matthews, chairman of Wesley Clover. “The company is well positioned to leapfrog other vendors and capture significant market share in the rapidly evolving communications industry.”
The ThinkRF solution is built on patented, software-defined spectrum analysis technology that gives users greater versatility, better performance and additional capabilities for wireless spectrum analysis. In addition to 5G, the compact and remotely deployable ThinkRF platform is ideal for security applications from signals intelligence (SIGINT), which is the interception of signals by intelligence agencies to help fight the war on terror, to technical surveillance countermeasures (TSCM), which involves pinpointing electronic eavesdropping devices.