Meru Lands $12M C Round
SUNNYVALE, Calif. -- Meru Networks, the global
leader in enterprise VoIP mobility infrastructure, today announced that it has
secured $12 million in Series C funding, bringing the company's total amount
of funding to $42.7 million to date. BlueStream Ventures, Clearstone Venture
Partners and NeoCarta Ventures led the round.
The new round of funding will be used to continue scaling Meru's sales force to address the company's key market opportunities for Voice over IP and Wireless LANs. Specifically, Meru plans to significantly increase its sales team, channels and engineering resources to take advantage of sizable market opportunities in both the enterprise and service provider arenas. According to the Dell'Oro Group, Meru's total available market opportunity for Enterprise-class WLAN equipment revenue is estimated to be $1.3 billion in revenue, growing to $3.7 billion in 2009.
"Meru's Cellular WLAN technology truly represents a technological leap that goes beyond any product in the wireless LAN market today," said Andre Turenne, Managing Director at NeoCarta Ventures. "Enterprise customers are searching for ways to lower costs, increase productivity and future-proof their wireless LANs for the inevitable convergence of voice and data and Meru has stepped up to the plate with a unique architecture that enables them to meet all of these requirements."
William Quigley, Managing Director at Clearstone Venture Partners, commented, "We are impressed with the substantial momentum Meru has already attained and are eager to help the company address the growing prospects in the Voice over IP and WLAN markets. With this latest infusion of cash, Meru can invest more in its sales and engineering teams to take full advantage of these sizable opportunities."
Meru Networks Inc.