Meru Secures $17M

Meru Networks raises $17M in Series B financing to expands support for its Wireless LAN System

April 22, 2004

2 Min Read

SUNNYVALE, Calif. -- Meru Networks today announced it has secured $17 million in Series B funding from leading investors. The new funding will enable Meru to scale the company to address the market acceptance of its award-winning Wireless LAN System, the industry's only standards-compliant converged wireless local area network (WLAN) infrastructure. Meru will use the additional funding to expand operations to support the growing customer base, expand into new geographic areas and continue to enhance product functionality to address customer needs.

"Over $300 million has already been invested in WLAN infrastructure ventures, but key problems remain that cannot be addressed by today's WLAN systems," said Tom Erickson, General Partner and Co-Founder, BlueStream Ventures, the lead investor in this funding round. "Meru's innovations incorporate unique solutions for RF (radio frequency) management and security, that--when combined with over-the-air QoS (Quality of Service) and handoff capabilities--go beyond any products on the market to address large-scale, pervasive, WiFi-compliant WLAN deployments. The breadth and depth of the company's technology platform have led to remarkably strong customer acceptance."

Joining BlueStream Ventures in this funding round is another new Meru investor, Sierra Ventures, as well as the seven firms which previously provided $13.7 million in initial financing: Clearstone Venture Partners, NeoCarta, Evercore Ventures, BrainHeart Capital, JumpStartUp Venture Fund, Monitor Ventures and Dot Edu Ventures.

"Meru's technology is reminiscent of the Ethernet switching revolution of the early 1990s - improved network performance, manageability and security without changing the end clients. This next-generation WLAN infrastructure enables a new generation of wireless applications in the enterprise," said David Schwab, General Partner, Sierra Ventures. "These are exactly the visionary innovations that pave the way for enormous benefits to customers - lowering costs, increasing productivity and increasing return on investment on their WLAN investment - and define a sound Sierra Ventures investment."

Added Ujjal Kohli, Chief Executive Officer of Meru Networks, "This funding is a strong endorsement of both our business plan and product direction. We remain focused on enabling customers to derive more benefits from the wireless investments they are considering. With this funding we will enhance our operations to satisfy market demand as enterprise WLAN deployments intensify."

Meru Networks Inc.

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