AirTight Networks, a provider of Wi-Fi security and management solutions, today announced that it has closed a Series D financing round of $10 million, bringing the total capital raised to-date by the company to $48.75 million.
The financing was led by existing investors Trident Capital and CMEA Capital, and will be used to fund company growth.
AirTight offers Wi-Fi networking solutions designed to meet the demands of enterprises, built on a controllerless Wi-Fi architecture that the company says eliminates the cost and complexity often associated with legacy WLAN solutions.
“Following its initial success in wireless security, AirTight now has an even greater opportunity to lead the way in next-generation Cloud Wi-Fi solutions. All of AirTight’s existing investors are excited to support the company’s growth trajectory with additional working capital and operational funding,” said Alberto Yepez, Managing Director at Trident Capital.
“We are gratified by this vote of confidence from our current investors in providing additional operating capital to fuel our rapidly accelerating growth,” said David King, AirTight Networks Chairman and CEO.
“The explosion of mobile devices and the uptake of enterprise mobility and cloud applications continue to be top of mind for enterprise IT in terms of driving WLAN infrastructure growth across a wide range of vertical markets,” said Rohit Mehra, Vice President, Network Infrastructure, IDC. “The emergence of cloud-based architectures for managing large-scale, highly distributed deployments in Enterprise Wi-Fi is a key trend that AirTight is well positioned to participate in.”
“Solutions like those from AirTight with cloud-based WLAN support address three important aspects: connectivity, security, and management,” said John Mazur, Senior Analyst, IT Infrastructure, Networking, ESG. “Customers demand solutions that are simple to deploy and manage, as well as scale as they grow, all in a cost-effective manner.”