Tudor Growth Equity, the corporate venturing unit of hedge fund manager Tudor Investment, has invested $10m in Single Digits, a US-based provider of high-speed internet access technology.
The new funding will be utilized to support the company’s rapid growth and product development for ensuring laptops, smartphones, tablets and other WiFi-enabled devices, are securely connected to the internet.
Jeff Williams (pictured), partner of Tudor Growth Equity, said: "[Single Digits] realises that situations such as BYOD [bring your own device] are not only an issue plaguing enterprise corporations, but a communication and security challenge affecting many types of organizations. Our funding will enable them to quickly take their proven and successful business model and expand it into the healthcare and higher education verticals, while strengthening their core hospitality and retail markets."