Xirrus Raises $23.5 Million in FinancingWednesday, September 26, 2012
Xirrus, a maker of Wi-Fi network technology, said late Tuesday that it has closed a $23.5 million financing round.
The Thousand Oaks company said the Series E round was led by existing investors August Capital, Canaan Partners, InterWest Partners, QuestMark Partners and U.S. Venture Partners. It plans to use the money to accelerate global sales and for research and development.
Xirrus makes access devices for high-performance wireless networks that serve highly populated but sprawling sites. The technology is particularly useful at schools, hospitals, shopping centers and similar locations.
"The global enterprise market for (Wi-Fi) continues to see double digit growth," said Steve Krausz, U.S. Venture’s general partner, in a statement. "Xirrus…is well positioned to lead the industry as it evolves from wired to wireless access."