Trapeze Raises $17.5M

Trapeze Networks has raised $17.5M in Series C financing

April 6, 2005

1 Min Read

PLEASANTON, Calif. -- Trapeze Networks™, maker of award-winning wireless local area networking (WLAN) systems, today announced that it raised $17.5 million in third-round Series C funding, bringing the total investment in the company to $67.5 million.

Venture capital firm Duff Ackerman & Goodrich led the Series C round with $4 million. Trapeze received additional Series C funding from a recently announced alliance with Nortel and its original team of first- and second-round investors, including venture capitalists Accel Partners, Redpoint Ventures, Oak Investment Partners and Castile Ventures, investment bankers and financial services firms Trautman Wasserman & Co. and C.E. Unterberg Towbin.

In April 2002, the original investors – Accel Partners and Redpoint Ventures and a group of Trapeze employees – contributed $16 million in Series A funding. In June 2003, Trapeze raised $34 million in Series B funding, raising one of the largest rounds of private venture funding that year.

“Our Series C funding will go toward hiring more engineering and sales staff to meet the needs of our new OEM partners and rapid growth in the WLAN market,” said Jim Vogt, president and CEO of Trapeze Networks. “We believe the addition of Nortel to the investment round is a testament to its commitment to Trapeze and the future of our joint development projects.”

Trapeze Networks Inc.

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