Guerrilla RF, a supplier of MMICs for the wireless infrastructure market, announced the closing of a $3.8 million Series E funding round — a combination of equity and debt — with investments from multiple angel investors.
Ryan Pratt, founder and CEO, said “This year is off to a very fast start for us. With multiple customer production ramps underway, it was clear we needed additional working capital. This Series E funding round gives us the working capital that we anticipate needing, with quite a lot of margin on top for any upside business. Based on the revenue growth we see, we believe we’re in striking distance of profitability for the first time.”
Formed in 2013, Guerrilla RF expects to at least double 2018 revenue compared to 2017 and plans to employ 25 associates by the end of 2018. The company currently employs 21.
Supporting the firm's outlook for growth in wireless infrastructure, Guerrilla RF cited Research and Markets, which projects a compound annual growth rate greater than 5 percent, reaching more than $104 billion in annual spending by the end of 2020.