Colubris Captures $13M
The oversubscribed series C round was led by Grandbanks Capital, with new investor, Mid-Atlantic Venture Funds and existing VCs, Prism Venture Partners and the Business Development Bank of Canada. The company has gathered $21 million in funding in total.
Carl Blume, director of product marketing at Colubris, says that the influx of fresh cash will be mainly spent on adding personnel in "engineering, sales, and marketing." The firm, which has access points and management products for both the enterprise and hotspot market, will use some of the money to develop new products, although Blume isn't saying what yet.
"That's a secret," he teases.
And despite claiming that this new VC infusion will be the last for "fully funded" Colubris, Blume is more cautious than some of his rivals in talking about the potential for an IPO (see Switch Startups Mull IPOs).
"We're not really speculating on exits at the moment," Blume says [ed. note: double doors, to your left…].
— Dan Jones, Site Editor, Unstrung