Xirrus raises $10.1M
Thousand Oaks-based wireless firm Xirrus has raised $10.1 million in venture capital, bringing its total operational funding to an estimated $90 million.
The latest funding round was disclosed in securities filings and follows a $23.7 million round in September 2012 that was led by existing investors August Capital, Canaan Partners, InterWest Partners, QuestMark Partners and US Venture Partners. In calculating a firm’s total funding, the Business Times excludes money that went toward buying out previous investors.
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.
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.