Thousand Oaks-based wireless firm Xirrus has raised an additional $23.5 million in venture capital, bringing its total funding to an estimated $122 million.
The lastest funding round was led by existing investors August Capital, Canaan Partners, InterWest Partners, QuestMark Partners and US Venture Partners.
Xirrus makes heavy duty Wi-Fi systems designed to replace wired networks in places like office buildings and college campuses. The company brought a new CEO, Shane Buckley, on this summer. He most recently led wireless firm Netgear’s commercial division.
“The world has changed. We depend heavily on wireless communications, and businesses everywhere are seeking new network strategies to meet the demands for fast, secure, and reliable mobile access,” Buckley said in a statement. “With this newest round of funding, we are able to develop new markets in Europe and Asia Pacific.”
In an interview with the Business Times earlier this year, Buckley said the rising popularity of smart phones and tablets among mobile employees – a trend known as “bring your own device” – has presented Xirrus with an unprecedented opportunity to present faster, better Wi-Fi networks to companies.