AirTight Networks Closes $12 Million Series B Financing
Mountain View, Calif., Dec 16, 2005, AirTight Networks™, the leader in wireless perimeter security, today announced that it has closed a Series B financing totaling $12 million. This raises the total amount of capital invested in the business to $22.25m.
The investment was led by Trident Capital, one of AirTight’s Series A investors. John Moragne, Managing Director of Trident Capital, has joined the company’s Board of Directors. All of AirTight’s Series A investors (Walden International, Granite Ventures, Blueprint Ventures, as well as Trident) joined in the company’s Series B financing round. Siemens Venture Capital, the venture capital arm of global conglomerate Siemens AG, also participated in AirTight’s latest financing as a new investor.
“AirTight is on the rapid growth ramp that characterizes successful start-up companies,” said David C. King, Chairman and CEO of AirTight Networks. “We’re gratified that AirTight’s previous investors have shown confidence in our execution to date as well as our future potential. We are also pleased that Siemens Venture Capital has chosen to participate in this latest funding round.”
“Trident Capital has a strong focus on security technology, and we’re excited about AirTight’s tremendous potential as a market leader in a rapidly emerging space,” said John Moragne, Managing Director, Trident Capital. “Over 97% of all enterprises have wired perimeter security solutions today, but less than 2% have the equivalent wireless perimeter security functionality. AirTight has won a number of important head-to-head bake-offs against its competition. The company is executing very well and we are committed to AirTight’s success.”
“Siemens Venture Capital invests in companies that complement our corporate vision and technology strategy in the networking and communications industry,” said Louis Rajczi, Investment Partner, Siemens Venture Capital. “AirTight’s position as a leader in the wireless perimeter security market is a good fit with our perspective on how wireless technologies will pervade the enterprise and public network markets, and the corresponding need to secure these network connections.”
About AirTight Networks
Founded in 2002, AirTight Networks is the leader in wireless perimeter security solutions. AirTight Networks’ SpectraGuard® family of wireless perimeter security products and services provides enterprises and service providers with around-theclock wireless monitoring and automatic intrusion prevention, while managing wireless LAN network performance for maximum capacity and uptime. The SpectraGuard family of products is the industry’s only solution that correctly classifies wireless devices and events, identifies and automatically stops security risks and attacks, and accurately locates potential wireless security risks. AirTight Networks is a privately held company based in Mountain View, CA. For more information, visit the company’s Web site at www.airtightnetworks.net.
About Trident Capital
Trident Capital is a leading venture capital and private equity firm with over $1.5 billion of capital under management, including $400 million raised in its recentlyclosed Fund VI. Trident focuses on investments in the information services and software sectors across a variety of industries, one of which is security. Within its sector focus, Trident invests across multiple stages, including traditional venture capital investing as well as investments in micro-cap public companies, buyouts, and consolidation platforms. The firm has made over 100 investments since its inception. Some of Trident’s security investments include: Arxan Technologies, MegaPath Networks, Qualys, Sygate (recently acquired by Symatec), Thor Technologies (recently acquired by Oracle), TriCipher, and Vidient Systems. Trident has investment offices in Palo Alto, Calif. and Westport, Conn. For more information, visit the firm’s website at www.tridentcap.com.
About Siemens Venture Capital
Siemens Venture Capital (SVC) is the 700 million euro corporate venture organization for Siemens AG, one of the largest global electronics and engineering companies, with reported worldwide sales of 75,4 billion euro in fiscal 2005. The goal of SVC is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in Information and Communications, Automation and Control, Medical Solutions, Automotive Technology and Transportation Systems, Power, and Lighting. To date, SVC has invested some 700 million euros in far more than 100 start-up companies and 30 venture capital funds mainly in the U.S., Europe and Israel, thus playing a key role in the global network of innovation. SVC is located in Germany (Munich), in the U.S. (San José, CA and Boston, MA) and is active through Siemens regional units in Israel and China.
AirTight, AirTight Networks, and the AirTight Networks logo are trademarks, and SpectraGuard is a registered trademark of AirTight Networks, Inc.
- Contact Information
- Sabine Zindera
- Public Relations Manager
- Siemens Venture Capital (SVC)
- Contact via E-mail
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