ReefEdge Gets Wedge
The Fort Lee, N.J-based firm's latest injection of greenbacks has come from all its major existing investors, including Allegra Partners, Bessemer Venture Partners, Columbia Capital, Ericsson Venture Partners, RRE Ventures, and Saturn Venture Partners LLC. This new funding means that the company has raised over $40 million since June 2000.
A spokesman for ReefEdge denied that there have been layoffs at the company recently. Unstrung has been hearing from sources that the company canned six of its sales staff. But ReefEdge says that isn't the case, although a source familiar with the company says that the firm has lost some employees through "attrition." [Ed note: trench foot, anyone?]
ReefEdge is battling away in the fiercely competitive managed enterprise wireless LAN market with rivals such as Airespace Inc., Aruba Wireless Networks, Bluesocket Inc., Perfigo Inc., Roving Planet Inc. and Vernier Networks Inc. All these companies have slightly different techniques for managing and securing 802.11 networks -- via an appliance, gateway, switch, or whateverthehellyouwanttocallit -- but in the end they're fighting for the same customers.
To this end, ReefEdge plans to announce new branch office products in December. The firm's spokesman didn't have many details he could share but says that the products are intended to simplify installation at remote offices and work whether or not they are connected to a centralized management box.
— Dan Jones, Senior Editor, Unstrung