Colubris Cashes Up
The startup, which will officially announce the new cash injection tomorrow, has now gathered $36 million in total venture funding (see Colubris Grabs $15m).
The series D round was led by new investor Doll Capital Management (DCM) and includes previous sugar daddies for the firm. This investment brings Colubris’s funding into line with its wireless LAN infrastructure peer group that includes Aruba Wireless Networks ($59 million), Airespace Inc. ($58 million), Trapeze Networks Inc. ($50 million), Bluesocket Inc. ($42 million), and Meru Networks Inc. ($31 million).
Compared to its competitors, Dixon Doll, founder and managing general partner at DCM, believes the firm has, so far, managed to achieve more with less. “Colubris is one of the most capital-efficient and disciplined companies I have ever involved myself with,” he says.
Colubris's PR director Bob Olson says the firm plans to spend the money developing its channel and inking further OEM deals. It already has agreements with Alcatel (NYSE: ALA; Paris: CGEP:PA), Juniper Networks Inc. (Nasdaq: JNPR), and others.
Olson also says Colubris is working on new products but doesn't offer any details yet (see Colubris Plots Bigger Box).
— Dan Jones, Site Editor, Unstrung