RCN Technologies Announces First Investment Partner Renodis to Accelerate Growth in 5G & LTE Connectivity Solutions for Business

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.

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.

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.

About RCN Technologies

RCN Technologies is a 5G & LTE enablement specialist for business, providing end-to-end white-glove service to help customers stay connected with Fixed Wireless Service, Wireless Backup Internet, Managed Data, Rugged Connected Devices, and Private Cellular Networks. RCN focuses on providing the best end-to-end consulting, integration, field, and support services and manufactures all-in-one wireless solutions including the PNK, POTS-over-LTE Kit, Public Hotspot Kit, and more. RCN was named the first East Tennessee-area I.T. company to be certified woman-owned and rank on the Inc. 5000 list and holds numerous top-level partnerships with cellular industry titans. Founded in Knoxville, Tenn. in 2013, RCN has helped thousands of organizations with 5G & LTE-focused consulting, integration, field, and support services. For more information, visit rcntechnologies.com.

About RTech Solutions

RTech Solutions is a single-source provider for LTE & 5G all-in-one solutions-as-a-service. RTech delivers customers turnkey cellular services backed by secure cloud-managed, cross-carrier pooled data. RTech’s bundled services combine best-in-class hardware, major U.S. carrier data, world-class tech support, and cloud management platforms for one low, fixed monthly cost. Popular services include solutions for converting POTS lines to operate over LTE networks, backup wireless internet, out-of-band management, and more. RTech is headquartered in Knoxville, Tenn., and has been making it easy for businesses to get connected since 2018. For more information, visit getrtech.com.

About Renodis

Renodis is a Connectivity Technologies Consulting, Sourcing, and Managed Services firm. We help enterprises accelerate their copper to cloud journey resulting in less frustration from managing legacy technologies and suppliers, better utilized IT talent, and improved support experience for their offices and people. All while client experience skyrockets and IT costs are reduced. A Saint Paul, Minnesota-based company since 2002, Renodis has helped hundreds of organizations with their communications technology transformations. Find out more at Renodis.com.