The Two-Time Inc. 5000 Company Projects Additional Growth in Cellular Technology Market Share with Investment from Minneapolis-based Technology Services Firm

KNOXVILLE, TENNESSEE, UNITED STATES, March 3, 2022 /EINPresswire.com/ -- RCN Technologies, the market leader in 5G and LTE enablement solutions for business, has completed its first investment round today by announcing a new minority partner in Renodis, the leader in telecom and mobility management based in Minneapolis. The investment is part of RCN’s ongoing strategy to capitalize on the rapidly expanding 5G connectivity for business market.

Knoxville, Tennessee-based RCN Technologies delivers solutions for companies and public sector organizations seeking to leverage innovative cellular technologies, including POTS-over-LTE replacement, wireless pop-up networks, wireless edge 4G and 5G solutions, and more to connect sites, vehicles, mobile workforces, and IoT devices. RCN has seen tremendous growth in the first nine years of the company’s operations by focusing on providing the right solution to every customer, appearing on the 2020 and 2021 Inc. 5000 list of the fastest-growing privately held companies in America.

After a thorough process to find the right strategic and financing partner to support its projected near-term growth, RCN co-owners Jennifer and Geoff Yearack selected Renodis as their first outside financing partner in 32 years of successful entrepreneurship.

“We sought a partner to help us sharpen our ability to serve enterprise and government customers with our 5G and LTE enablement expertise, products, and services. At the same time, we also required the partner to boast a skillset that fuels the growth of our POTS-over-LTE Replacement and 5G as-a-service solutions,” said Geoff Yearack, President and Owner of RCN Technologies and RTech Solutions. “I hold extreme confidence that Renodis stands as that perfect partner to help us solve the complex enterprise challenges faced by clients. With their investment, RCN and RTech seek to deploy our innovative and market-leading 5G and LTE enablement solutions in the field with more agility, efficiency, and confidence for our customers.”

Renodis’ partnership brings more than growth financing, as it has 20 years of industry expertise and resources that will accelerate RCN’s capabilities to serve increased customer demand for 5G and LTE-based wireless solutions. With its own remarkable growth under the leadership of CEO and owner Craig Beason, CFO David Steichen, and CTO Matt Spivey, Renodis is a natural and complementary fit with its focus on providing turnkey telecom management services. Renodis’ investment also includes a minority stake in RTech Solutions, a leader in cellular data management, and 5G & LTE all-in-one solutions as a service.

“Our investments in RCN and RTech position Renodis as a leading provider of 5G and LTE enablement solutions,” said Beason. “Renodis’ most important priority has always been ensuring the resiliency of our clients’ connectivity, advising on the right technologies, and providing best-in-class managed solutions. These investments mark a very important milestone in our continuous effort to ensure our clients have access to the industry’s best outcomes, greatest resiliency, and lowest costs.”

The three companies project to drive accelerated growth through the partnership by leveraging the strengths, resources, and relationships of each. Combined, they will improve services for each company’s current customers and drive new collaborations between their respective teams. Customers of all three companies can expect seamless, full-spectrum wireless communications solutions for enterprises seeking advanced technologies, innovative solutions, and turnkey ‘as-a-service’ options.

The funding will be used to accelerate new technology and solution development, increase sales staffing, expand marketing activities, and add engineering and support talent and resources for RCN’s operations.

RCN was the first woman-owned company in the world to earn Cradlepoint’s 5G for Enterprise Branch specialization certification in 2021. The company was also recently named the first Elite Partner in the history of cellular industry veteran Inseego and holds a number of top-level partnerships with 5G & LTE industry titans, including Verizon, T-Mobile, InHand Networks, Peplink, Digi International, Getac, and more that will continue to drive increased growth and better solutions for customers.

Minneapolis-based Cherry Tree & Associates served as the investment banking advisor on the transaction.

Mark Indelicato
RCN Technologies
+1 865-321-1907
email us here

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