Wireless LAN Innovator Aerohive Secures $23.5 Million Series C Investment Wireless LAN Innovator Aerohive Secures $23.5 Million Series C Investment
New Funds to Expand Company's Sales and Marketing Capabilities and to Continue Development of Award-winning Controller-less WLAN Technology
SANTA CLARA, Calif., March 22nd, 2010 — Aerohive Networks, creators of the award-winning cooperative control wireless LAN (WLAN) architecture, announced today that it has secured $23.5 million in Series C equity funding. The round included participation from new and existing Aerohive investors. To date, Aerohive has raised $47.5 million in venture capital funding.
The new funds will be used to expand the company's sales and marketing capabilities throughout the world and to continue development of the company's award-winning controller-less WLAN technology.
"When we started Aerohive, we were looking to revolutionize the wireless LAN market through innovation." said David Flynn, chief executive officer at Aerohive. "First with a disruptive controller-less architecture to meet the performance of 802.11n, eliminate single points of failure and substantially reduce cost. Subsequently, we have delivered new levels of determinism with a unique Service Level Assurance (SLA) capability and simplified the management, deployment and cost of enterprise Wi-Fi with a cloud-based SaaS solution. Today's investment validates our approach, expands our presence and allows us to accelerate the innovation."
Aerohive's unique cooperative control wireless LAN architecture requires no network controllers or overlay networks. Instead, software in the HiveAPs enables them to self-organize into groups called hives. The result is a secure multi-service WLAN infrastructure that is able to support a vast array of wireless devices, application types, and service levels, with faster client performance, wire-like resilience, and lower capital and operational costs. For more information on Aerohive and its cooperative control WLAN architecture, please visit www.aerohive.com.
About Aerohive Networks
Aerohive unleashes the potential of enterprise Wi-Fi, enabling customers to stop buying copper, to move applications to the air, and to maximize workforce productivity. The company's award-winning cooperative architecture eliminates costly controllers, saving money and providing unprecedented resiliency, up to 10X better application performance, and an opportunity to start small and expand without limitations. Aerohive was founded in 2006 and is headquartered in Santa Clara, Calif. The company's investors include Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, and Northern Light Venture Capital. For more information, please visit www.aerohive.com or call 408-510-6100.