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July 11, 2012 01:54 am GMT
An all-hands meeting at wireless network provider Meraki just closed with a bang: it's raised $40 million and is now looking for a 100,000 square foot office according to my sources. The financing comes mostly from existing investors that likely include Sequoia and Northgate. Much of the $40 million is debt with the principal to be repaid within five years. Details on exact investors are still coming together because Meraki hoped to keep the round quiet as not to rile up competitors.Meraki will use the funds to keep a cash cushion, pay for its new headquarters, and aggressively hire in sales so it can break away from competitors like Aerohive and Cisco. If all goes well, I hear an IPO is on the horizon.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ipUpNwAVXx8/
Meraki Plans To Conquer Enterprise Wi-Fi, Hire Like Crazy With $40M In New Funding
An all-hands meeting at wireless network provider Meraki just closed with a bang: it's raised $40 million and is now looking for a 100,000 square foot office according to my sources. The financing comes mostly from existing investors that likely include Sequoia and Northgate. Much of the $40 million is debt with the principal to be repaid within five years. Details on exact investors are still coming together because Meraki hoped to keep the round quiet as not to rile up competitors.Meraki will use the funds to keep a cash cushion, pay for its new headquarters, and aggressively hire in sales so it can break away from competitors like Aerohive and Cisco. If all goes well, I hear an IPO is on the horizon.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ipUpNwAVXx8/
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