Aerohive Networks Secures $20 Million Series B Investment Led by Kleiner Perkins
Wireless LAN (WLAN) Pioneer to Continue Development of Next-Generation, Controller-Less WLAN Products, Expand Sales, Marketing Capabilities
SANTA CLARA, Calif., July 30, 2007 — Aerohive Networks, creators of the "cooperative control" wireless LAN (WLAN) access point (CC-AP), announced today that it has closed a $20 million Series B venture capital financing. Kleiner Perkins Caufield & Byers led the investment. Previous investors Northern Light Venture Capital and Lightspeed Venture Partners also participated in the round and, as indication of their enthusiasm for the opportunity, increased their ownership. To date, the company has raised more than $24 million in venture capital financing. 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 for the enterprise.
"The enterprise WLAN market has reached a significant inflection point as corporations transition from wireless-as-a-convenience to wireless-as-an-imperative. Aerohive's architecture is the first to make this transition practical by providing scalable performance and superior support for voice, while at the same time simplifying deployment and reducing cost." said Matt Murphy, a partner at Kleiner Perkins Caufield & Byers. "Aerohive has the optimal combination of innovative technology and a proven, execution-oriented team to deliver to a timely customer need in a large, growing market."
Premier VC Endorses Aerohive's Innovative New WLAN Architecture
Aerohive's new class of wireless LAN equipment eliminates the need for centralized wireless LAN controllers, enabling a next-generation cooperative control wireless LAN architecture ideal for whole-enterprise deployment. In Aerohive cooperative control wireless LAN networks, multiple HiveAPs self-organize into groups called "hives", sharing control information. The result is enterprise-class management, mobility, and security without the cost, capacity, performance, and availability issues associated with controller deployments. The cooperative control architecture provides the reliability necessary for mission-critical networks, is optimized for voice over wireless LAN (VoWLAN) applications, and scales easily to support 802.11n.
"Kleiner Perkins has an outstanding track record of helping their portfolio companies to succeed," said David Flynn, chief executive officer, Aerohive. "Their investment is a gratifying endorsement of our vision for a new class of enterprise WLAN equipment, and we are looking forward to working closely with Kleiner Perkins to leverage their expertise, resources, and relationships to accelerate our growth."
About Aerohive Networks
Aerohive Networks' cooperative control enterprise wireless LAN architecture provides all the management, mobility, and security of controller-based architectures without the cost, capacity, performance, and availability issues associated with controller deployments. In addition, Aerohive solutions provide the reliability and scalability necessary for mission-critical networks and are optimized for voice over wireless LAN (VoWLAN) applications. Aerohive was founded in 2006 and is headquartered in Santa Clara, Calif. The company's investors include Northern Light Venture Capital, Lightspeed Venture Partners and Kleiner Perkins Caufield & Byers. For more information, please visit www.aerohive.com or call 408-510-6100.