Xirrus Inc., a Westlake Village, Calif.-based provider of WiFi solutions for the enterprise, has raised $26 million in Series C funding. peHUB had reported on the round last month, based on a regulatory filing. Canaan Partners led the round, and was joined by return backers August Capital, QuestMark Partners, U.S. Venture Partners and company CEO Dirk Gates.
Xirrus, Inc., the only Wi-Fi “Power-Play” that can replace Ethernet workgroup switches with Wi-Fi as the primary network connection for end users, announced today that it closed a third round of funding, securing an additional $26 million in equity financing. The round was led by Canaan Partners, with additional participation by all existing investors including U.S. Venture Partners, August Capital, QuestMark Partners and Dirk Gates, president and chief executive officer of Xirrus. The investment will be used to fuel further acceleration of customer acquisition and international expansion.
The investors were attracted by Xirrus' explosive growth, increased rate and quality of customer acquisition, growing deal size, and the desire of many of Xirrus' customers to transition their wired networking budgets to wireless deployments when presented with a cost effective alternative that performs to a wired level. The value seen in Xirrus was in the platform's ability to address the needs of the enterprise and in being the only Wi-Fi architecture capable of effectively replacing wired Ethernet workgroup switches instead of being limited to an overlay technology like all the other competitors in the Wi-Fi industry. As the only “Wi-Fi Power-Play,” Xirrus is in the unique position of competing to win business from the enterprise switching budget, which is a more established and predictable source of revenue than the experimental and often discretionary Wi-Fi budget that most of its competitors are restricted to.
Xirrus Wi-Fi Array implementations provide more coverage, more bandwidth, more throughput, more encryption, more intelligence, and support for more users per cable drop than anything else available in the industry today — resulting in a solution that uses 75% fewer devices, power, cabling, switch ports, and installation time than competitive offerings.
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