NAPLES, Fla., (October 20, 2022) — Angel investors from Southwest Florida participated in a successful capital raise for Wyebot, a company that helps optimize wireless networks for performance, reliability and security.
Members of Tamiami Angel Fund IV invested $1.26 million in Wyebot, part of a larger $6 million capital raise that will help the company grow sales and invest in research and development.
“The Wyebot team has decades of experience growing successful businesses in the wireless-network industry, including the development of 20 patents, giving us great confidence in their business plan,” says Timothy Cartwright, partner of Fifth Avenue Family Office and chairman of Tamiami Angel Funds.
Using artificial intelligence and automated monitoring, Wyebot’s software-as-a-service allows managers of large wireless networks to quickly identify performance and reliability issues and fix them immediately. For example, Wyebot helps hospital information-technology departments ensure that doctors and nurses equipped with wireless tablets can quickly access patient records they need for critical care any time of day or night. Wyebot’s Wireless Intelligence Platform can also be used to monitor wireless systems and solve problems in manufacturing plants where remotely controlled robots assemble goods, in distribution centers where workers sort packages using wireless bar-code scanners, on large campuses where students use Wi-Fi heavily, and at big-league sporting events where throngs of fans armed with cell phones post photos and videos to social media at once.
“We’ve seen a big shift to cloud computing and network around the world and the challenge is intermittent performance issues,” says Wyebot CEO and co-founder Roger Sands. “These are dynamic problems that come and go and without our software it’s not humanly possible to identify them all.”
Sands is keenly aware of the challenges because prior to Wyebot he was business line manager for Hewlett-Packard’s worldwide wireless business, which he grew from sixth to second in market share. An electrical engineer, he joined HP via the acquisition of Colubris Networks, a wireless startup, where he held a number of executive positions including co-CEO and was instrumental in the HP acquisition. Prior to Colubris, he founded the enterprise wireless business at Accton Technology, building it to number three market share via six strategic partnerships.
The investment by Tamiami Angel Fund IV and other investors will help Marlborough, Mass.-based Wyebot grow sales and marketing so it can continue to double its business annually and maintain its leadership position. “We’re also investing in research and development because we want to continue to be the leader,” Sands adds.
Naples-based Tamiami Angel Funds are member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference to those in the state of Florida. For more information about Tamiami Angel Funds, visit www.tamiamiangels.com. For more information about Wyebot visit wyebot.com.
About Tamiami Angel Funds
Tamiami Angel Fund I, Tamiami Angel Fund II, Tamiami Angel Fund III and Tamiami Angel Fund IV are member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference to those in the state of Florida. Fifth Avenue Family Office, the administrator of the angel funds, caters their multi-family office services to high-net-worth entrepreneurs and their families. The funds are members of the Angel Capital Association and the Florida Venture Forum. For more information, visit www.tamiamiangels.com.