Aerohive Wraps Up Successful Year with Rapid Expansion, New Funding, Prestigious Award Wins and Significant Customer and Channel Growth
Sunnyvale, Calif. — Jan. 8, 2013 — Aerohive Networks, the leader in controller-less Wi-Fi and cloud-enabled enterprise networking, today announced 2012 to be a banner year for the company. In 2012 alone, Aerohive experienced explosive demand for their innovative, cloud-enabled Wi-Fi solutions that drove rapid company growth, significant customer wins and strategic partnerships. Key highlights include increasing shipments by 132 percent and closing out the year with a $100M run rate, securing $22.5 million in Mezzanine Equity financing, growing the Aerohive customer base to over 7,500 customers worldwide and being recognized as the 5th fastest growing technology company in North America.
The mobile device explosion is driving increasing demand for enterprise Wi-Fi. In 2012 alone, Aerohive significantly grew its customer base with the addition of 4,500 new accounts, making strides in key verticals worldwide including healthcare, retail, education and the enterprise. The company increased shipments by 132 percent and closed out the year with a $100M run rate.
With over 7,500 customers worldwide, key customer wins include Brookdale Senior Living, the nation’s largest assisted living chain with nearly 600 facilities and over 60,000 residents; Hoogvliet, a Dutch supermarket chain with 62 supermarkets and 57 liquor stores, spread across The Netherlands, North Holland and Texas; and Tennessee Technological University, one of the nation’s top universities in the Southeast, according to Princeton Review.
The company has also been recognized as a leader by industry influencers. Most recently, Aerohive topped Deloitte's Technology Fast 500™ list at 5th place, making the company the 5th fastest growing technology company in North America. Earlier in the year, Aerohive was also named a “Visionary” in Gartner’s Wired and Wireless LAN Access Infrastructure 2012 Magic Quadrant. This is in addition to winning seven other industry awards in 2012 from organizations like AlwaysOn, CRN and eSchool Media.
In September, Aerohive announced $22.5 million in Mezzanine Equity financing, led by Institutional Venture Partners (IVP), a premier later-stage venture capital and growth equity firm. This was in addition to $72 million raised in previous rounds of funding since inception in 2006.
Aerohive also increased its market leadership with key new product releases. These releases included the industry’s first Bonjour Gateway, which enables enterprises to solve the challenge of supporting multiple Apple devices across multi-subnet enterprise networks—all for free.In addition to Bonjour Gateway, Aerohive released two new Access Points (APs): AP121 and AP141 designed to provide throughput and coverage at a cost-effective price point ideal for education, healthcare, retail and distributed enterprise environments. Aerohive also expanded its Branch on Demand product family with the BR200 Branch Router, which allows enterprises to connect, secure and manage branch office networks.
Aerohive extended its technological innovation into new arenas with strategic partnerships. In December, Aerohive teamed up with iPass Managed Network Services to form a managed Wi-Fi service partnership, delivering a secure Wi-Fi solution for the distributed enterprise and venue owners. Earlier in the year in June, Aerohive and JAMF Software announced an Integrated Mobile Device Management Solution for comprehensive management of Apple devices.
- Lastly, Aerohive added key leadership positions to guide the company’s rapid growth in the hot cloud-enabled enterprise Wi-Fi space. New executive appointments included Dean-Hickman Smith as senior vice president of worldwide sales, Raphaël Gernez as vice president of operations and Kurt Mills as vice president of channel sales.
“In 2012 we focused on building our business and helping our customers get greater ROI from their Wi-Fi solutions, while expanding our market leadership into key verticals,” said David Flynn, chief executive officer, Aerohive Networks. “We are extremely proud of all we accomplished last year, and know we couldn’t have reached this level of success without the hard work of our dedicated team, amazing customers and strategic partnerships. We look forward to what’s in store for Aerohive in 2013.”
About Aerohive Networks
People want to work anywhere; on any device, and IT needs to enable them -- without drowning in complexity or compromising on security, performance, reliability or cost. Aerohive's mission is to Simpli-Fi these enterprise access networks with a cloud-enabled, self-organizing, service-aware, identity-based infrastructure that includes innovative Wi-Fi, VPN, branch routing and switching solutions.
Aerohive was founded in 2006 and is headquartered in Sunnyvale, Calif. The company's investors include Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, Northern Light Venture Capital, New Enterprise Associates, Inc. (NEA) and Institutional Venture Partners (IVP). For more information, please visit www.aerohive.com, call us at 408-510-6100, follow us on Twitter @Aerohive, subscribe to our blog or become a fan on our Facebook page.