Online - Tuesday, February 20, 2007
BPL Raises $26M For Internet Via Third Wire - Electricity
Pittsburgh's BPL Global [BPL = broadband over power lines] has raised $26M in Series C from Morgan Stanley, PA Early Stage, Al-Deera Holdings, International Financial Advisors, International Finance Co. and Kuwait Holding Company. The company had previously raised $25M last September.
BPL has competition from Germantown, MD's Current Communications Group. Investors in Current include Google, the media conglomerate Hearst, Earthlink, GE and bankers at Goldman Sachs. More than $200M may have been invested in Current.
BPL is led by Keith Schaefer, who is on his 3rd or 4th technology life. He co-authored the widely read book NetResults. He was Senior Partner at Constellation Partners and Executive Partner at US Web/CKS.
Read - BPL Global Closes $26 Million Series C Financing Round
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