Greenwave Systems
Greenwave Systems provided a software-defined Network-as-a-Service platform (WAVELY) enabling MVNOs, IoT device manufacturers, and enterprises to deliver managed mobile connectivity services without owning physical network infrastructure. Acquired by AXON Networks in June 2026.
- Company typePrivate
- Founded2008
- HeadquartersIrvine, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Greenwave Systems does
Greenwave Systems is a global connectivity provider specializing in software-defined mobile network solutions. Founded in 2008 and headquartered in Irvine, California with an EMEA headquarters in Copenhagen, Denmark, the company built and operated the WAVELY platform—a cloud-native Network-as-a-Service (NaaS) offering that enables enterprises, MVNOs, and device manufacturers to become virtual network operators without owning physical infrastructure. WAVELY integrates Mobile IoT connectivity, IMSI switching, Travel SIM, eSIM management (powered by Valid's eReach since October 2021), and SIM lifecycle administration as a unified connectivity stack.
Greenwave served a diversified customer base spanning MVNOs, IoT device manufacturers, enterprise device fleet operators, and SMBs, reporting deployments across millions of IoT gateways and devices. Revenue was generated through recurring platform subscription fees and usage-based charges for connectivity services, distributed via direct enterprise sales and a self-serve cloud platform. Prior to its June 2026 acquisition by AXON Networks, the company had raised approximately $101 million across five funding rounds between 2010 and 2016 from investors including EDBI, ST Telemedia, E.ON, Craton Equity Partners, and The Westly Group, and had completed one acquisition (Predixion Software in September 2016).
Greenwave Systems firmographics
Firmographics- Name
- Greenwave Systems
- Legal name
- Greenwave Systems
- Website
- https://greenwavesystems.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Acquired
- Headcount range
- 251–500 employees
- Short description
- Greenwave Systems provided a software-defined Network-as-a-Service platform (WAVELY) enabling MVNOs, IoT device manufacturers, and enterprises to deliver managed mobile connectivity services without owning physical network infrastructure. Acquired by AXON Networks in June 2026.
- Ownership category
- akta.pro rank
Greenwave Systems industry classification
Industry- Product category
- IoT Connectivity Platform (Network-as-a-Service)
- NAICS
- Wired and Wireless Telecommunications Carriers (except Satellite) (51711), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- SIC
- Communications Services, Nec (4899), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Network-as-a-Service (NaaS) & On-Demand Connectivity (HDABALAE)
- akta.pro secondary industries
- NaaS Connectivity Services (On-Demand VPN, SD-WAN-as-a-Service, Bandwidth-on-Demand) (HDAIAIAH), Network, Infrastructure & Data Center Integration (BPAEAAAK)
Keywords
Where Greenwave Systems is headquartered
LocationHeadquarters
- HQ city
- Irvine
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Greenwave Systems business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Network-as-a-Service Platform Fees: Greenwave Systems operates as a NaaS provider, charging platform fees for access to its software-defined mobile network infrastructure, enabling customers to offer connectivity services without owning physical network infrastructure.
- Connectivity Services: Revenue generated from IoT connected services, device connectivity provisioning, and worldwide coverage services provided to device manufacturers and enterprises.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Greenwave Systems product offering
Product offeringCore offering
Greenwave Systems builds and sells the WAVELY Platform, a cloud-native software-defined Network-as-a-Service (NaaS) connectivity platform that enables device manufacturers, MVNOs, and enterprises to become virtual network operators and offer IoT connected services without owning physical network infrastructure. The platform includes IMSI switching, eSIM subscription management, Travel SIM, SIM fleet management, and worldwide multi-network coverage with end-user billing and reporting.
Product overview
Greenwave Systems offers a unified platform architecture centered on the WAVELY software-defined Network-as-a-Service (NaaS) connectivity platform. WAVELY serves as the core platform enabling businesses to become virtual network operators without owning infrastructure. The platform includes multiple integrated modules: Mobile IoT for device connectivity, IMSI Switching for network selection, Travel SIM for international roaming, Always Connected Laptop for PC connectivity, SIM Management Platform for lifecycle administration, and eSIM Services for embedded SIM provisioning. All modules are offered as part of the WAVELY ecosystem rather than as standalone products.
Differentiator
Problem solved
Functional benefit
Brands
- WAVELY: Software-defined Network-as-a-Service (NaaS) connectivity platform that allows customers to become virtual network operators. Empowers anyone to offer IoT connected services, fully secured without owning infrastructure.
Products and services
- WAVELY Platform A cloud-based software-defined Network-as-a-Service (NaaS) connectivity platform that enables device manufacturers, MVNOs, and enterprises to offer IoT connected services with customer support, end-user billing, reporting, and worldwide coverage without owning physical infrastructure. Targets MVNOs, IoT device manufacturers, and corporate enterprises.
Companies that use Greenwave Systems
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Greenwave Systems technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature6 records
Greenwave Systems partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ValidcoreGreenwave Systems selected Valid, a leading eSIM industry player, to provide eSIM and subscription management services for their WAVELY connectivity solution. Valid's eReach platform provides GSMA-compliant subscription management enabling corporate clients to manage eSIM-enabled device fleets. The partnership adds profile switching capability to Greenwave's existing IMSI switching, supporting the full digital onboarding of eSIM devices.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
Greenwave Systems competitors and assessment
Company assessmentDirect peers
- Cisco IoT (formerly Jasper): Cisco's IoT Control Center (built on Jasper Wireless, acquired 2016) is the leading cloud platform for managing IoT and M2M connectivity across global operator partnerships. It is the most direct competitor to WAVELY for MVNO and enterprise IoT connectivity orchestration.
- Ericsson IoT Accelerator: Ericsson's IoT Accelerator is a managed connectivity platform offering global IoT/MVNO enablement across operator partners. Competes directly with WAVELY for telco-grade IoT connectivity orchestration and SIM/eSIM lifecycle management.
- Nokia WING: Nokia's Worldwide IoT Network Grid (WING) provides managed IoT connectivity as a service for operators and enterprises. It directly parallels WAVELY's NaaS approach, offering multi-country connectivity orchestration without owning infrastructure.
- Soracom: Soracom offers a cloud-native IoT connectivity platform with cellular and LPWA coverage, self-serve SIM management and developer APIs. It is a direct competitor in the software-defined, API-first MVNO/IoT connectivity space.
- 1NCE: 1NCE provides global IoT connectivity as a flat-rate subscription service, targeting low-bandwidth IoT use cases with simplified global coverage. Comparable to Greenwave's connected-device service tier and competes for the same IoT developer and integrator buyer.
- Aeris Communications: Aeris offers the Aeris IoT Accelerator platform for managing connected device fleets across multiple cellular networks globally. It is a direct competitor in MVNO/IoT enablement and serves enterprise and automotive verticals similar to Greenwave's customer base.
- Tata Communications MOVE: Tata Communications MOVE provides global IoT and M2M connectivity orchestration across multiple operator footprints, targeting enterprises and OEMs needing cross-border coverage. Directly comparable to WAVELY for multinational managed connectivity services.
- KORE Wireless: KORE Wireless delivers managed IoT/M2M connectivity, eSIM platforms and MVNO enablement for enterprises and OEMs. It competes head-on with WAVELY across IoT managed services, eSIM provisioning and global coverage tiers.
Broad incumbents
- Twilio Super SIM: Twilio's Super SIM provides programmable cellular connectivity for IoT and connected devices globally via Twilio's broader CPaaS platform. It overlaps with WAVELY's API-first connectivity model and competes for developer-driven IoT customers as part of a much larger communications suite.
Others
- Valid (eSIM/eReach): Valid is Greenwave's technology partner providing eSIM and eReach subscription management integrated into WAVELY. While not a competitor, Valid is a directly comparable eSIM infrastructure provider and a key ecosystem dependency for Greenwave's enterprise offering.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Greenwave Systems social profiles
Digital presenceGreenwave Systems financial estimates
Financial estimateRevenue estimate
Valuation estimate
Greenwave Systems leadership team
Management profileNumber of profiles
Profiles9 records
Greenwave Systems funding detail
Funding detailFunding overview
Funding rounds5 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Greenwave Systems M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Greenwave Systems
What does Greenwave Systems do?
Greenwave Systems builds and sells the WAVELY Platform, a cloud-native software-defined Network-as-a-Service (NaaS) connectivity platform that enables device manufacturers, MVNOs, and enterprises to become virtual network operators and offer IoT connected services without owning physical network infrastructure. The platform includes IMSI switching, eSIM subscription management, Travel SIM, SIM fleet management, and worldwide multi-network coverage with end-user billing and reporting.
Is Greenwave Systems a public or private company?
Greenwave Systems is a private company. It is classified as venture growth investor backed and is currently acquired.
When was Greenwave Systems founded?
Greenwave Systems was founded in 2008. It employs 251 to 500 people.
Where is Greenwave Systems based?
Greenwave Systems is headquartered in Irvine, United States, in the North America region.
How does Greenwave Systems make money?
Two revenue lines are on record. Network-as-a-Service Platform Fees are the primary driver. The others are connectivity Services.
Who are Greenwave Systems's main competitors?
Direct peers on record are Cisco IoT (formerly Jasper), Ericsson IoT Accelerator, Nokia WING, Soracom, 1NCE, Aeris Communications, Tata Communications MOVE and KORE Wireless. Twilio Super SIM is listed as a broad incumbent. Valid (eSIM/eReach) is listed as an others.
Does Greenwave Systems have an API?
No public API is recorded for Greenwave Systems.
What industry is Greenwave Systems in?
Greenwave Systems's product category is IoT Connectivity Platform (Network-as-a-Service). Its primary akta.pro industry code is HDABALAE, Network-as-a-Service (NaaS) & On-Demand Connectivity, with a secondary code of HDAIAIAH, NaaS Connectivity Services (On-Demand VPN, SD-WAN-as-a-Service, Bandwidth-on-Demand). Its NAICS code is 51711 and its SIC code is 4899.