Portfolio News
Xirrus Raises $20 Million in Venture Round
Los Angeles Business Journal
Deborah Crowe
2 December 2009
Wi-Fi systems maker Xirrus Inc. said that it has secured an additional $20 million in a financing round led by InterWest Partners. The round brings total investment in the company to $80 million.
The Thousand Oaks company said late Tuesday that it would use the money to bolster its reserves and invest in partnerships. The financing is anticipated to be the last round of private funding Xirrus will require before a possible public offering.
"Times have changed since my last technology venture," said Chief Executive Dirk Gates, a company founder. "Xirrus has reached critical mass and significant customer traction with far less fanfare, yet far more substance than venture-backed companies during the 1990s."
Xirrus' Wi-Fi Array architecture can provide enough bandwidth, security, and control to replace ethernet cabling as the primary network connection for computers in corporate settings, the company said.
All existing venture investors, including August Capital, US Venture Partners, Canaan Partners, and QuestMark Partners participated in the round. Khaled Nasr, a partner at Menlo Park-based InterWest, will join the company's board, Xirrus said.
