Firetide Secures $13.6M

Mesh networking leader Firetide completes $13.6M Series B preferred stock financing round, led by Menlo Ventures

April 20, 2004

1 Min Read

LOS GATOS, Calif. -- Firetide Inc., the mesh networking leader that enables quick, easy, and affordable deployment of wireless instant networks, today announced the close of its Series B Preferred Stock financing round of $13.6 million, bringing the total investment in the company to $16.8 million. The round was led by existing investor Menlo Ventures with participation from HMS Ventures and individual investors.

“Firetide is leading the way for mesh networking,” said H. DuBose Montgomery, managing director and founder of Menlo Ventures. “We believe Firetide solves real problems with a product that’s easy to use and cost-effective. Firetide has created significant momentum and we expect their innovative technology to be pivotal in the rapid expansion of anywhere, anytime wireless networks.”

The funds will be used to expand sales and marketing as well as for continued product development. The company recently began shipping its HotPoint Wireless Mesh Router, and announced a distribution partnership with Connectronics, a national distributor offering a broad range of products to VARs, ISPs, and system integrators throughout North America. Additionally, Firetide has partnerships in place with Cranite, a leading provider of comprehensive security for wireless local area networks and Airpath Wireless, a provider of HotSpot management systems.

“We are extremely pleased with the continued positive support from the investment community to our Series B financing round,” said Bo Larsson, CEO of Firetide. “This is a privileged endorsement to our technology, products, mission and management team. The additional investment allows us to accelerate our already strong momentum in leading and innovating in the area of wireless mesh networking.”

Firetide Inc.

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