Trapeze Grabs $13.6M
Founded in March 2002 and based in Pleasanton, Calif., the company has now raised a total of $63.62 million (see Trapeze Swings $34M).
“We have not issued a press release, but we expect to do so shortly,” says Trapeze’s director of product marketing and business development, Michael Coci. “It was led by Duff Ackerman & Goodrich but included funding with all the others we had established relationships with as well as the new OEM partners.”
Previous investors include Accel Partners, Castile Ventures, CE Unterberg Towbin, Oak Investment Partners, Redpoint Ventures, and Trautman Wasserman & Co. 3Com Corp. (Nasdaq: COMS) and Nortel Networks Ltd. (NYSE/Toronto: NT) have also made undisclosed investments in Trapeze, linked to their OEM deals with the company (see Trapeze Swings With Nortel and 3Com Swings With Trapeze).
Trapeze’s Coci says that current headcount is “over 100” and the company is targeting “around 150 by the end of the year.”
Rival Aruba Wireless Networks has scooped up $59 million in VC investment to date (see Aruba Wraps $42M Financing). One-time competitor Airespace Inc. was acquired by Cisco Systems Inc. (Nasdaq: CSCO) for $450 million in January this year (see Cisco Buys Airespace).
— Justin Springham, Senior Editor, Europe, Unstrung