AirWave Closes $7 Million in Series D Funding.SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif. -- Prestigious Investment Firms Recognize Impact of AirWave's Wi-Fi Network See wireless Ethernet and 802.11. Management Software on Industry and its Growing Leadership Position AirWave Wireless, a leading wireless network management software developer, announced further validation of its strength in the Wi-Fi market with $7 million in new funding. Westbury Equity Partners led the round with participation from existing investors Ignition ignition, apparatus for igniting a combustible mixture. The German engineer Nikolaus A. Otto, in his first gas engine, used flame ignition; another method was heating a metal tube to incandescence. Partners and Idealab. The firms rank among leading influential private equity investors focused on the high tech industry. AirWave also announced the addition of Westbury President, James W. Schubauer II, to AirWave's board of directors. The company's AirWave Management Platform (AMP(TM)) software monitors, analyzes, and configures Wi-Fi networks. AirWave software manages even the largest and most complex wireless networks, protecting customers' existing network investments and giving them the freedom to choose new and different vendor equipment. The company's customers include Fortune 500 companies, major universities, healthcare facilities, school districts and government agencies. AirWave's software interoperates with and supports products from a host of industry leading providers including HP, Avaya, Cisco, Colubris, Enterasys, HP ProCurve, Proxim, Symbol, and others. "AirWave has rapidly risen to become the leading Wi-Fi network management software developer in terms of product sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. , strategic partnerships, customers, and technical integration with major Wi-Fi vendors," said James Schubauer. "We found this opportunity to contribute to the acceleration of AirWave's penetration of the emerging Wi-Fi marketplace extremely attractive." "The need for wireless network management continues to intensify as more businesses across industries recognize the benefits of mobility. Controlling costs and optimizing network performance have never been more important," said AirWave CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Gary Hegna. "Seasoned investors like Westbury Partners, Ignition Partners and Idealab bring years of proven experience in building successful technology companies. Their active support will be enormously helpful to us as we grow the company to take advantage of this market opportunity," he added. The company plans to use the additional funding to accelerate product development and grow its sales and marketing operations to support increased demand for its wireless LAN A local area network that transmits over the air typically in the 2.4 GHz or 5 GHz unlicensed frequency band. It does not require line of sight between sender and receiver. Wireless base stations (access points) are wired to an Ethernet network and transmit a radio frequency over an area management platform software. Cascadia Capital, a national investment bank specializing in a number of market sectors including information technology and communications, assisted AirWave in securing the financing. About AirWave AirWave Wireless, Inc. is the leading developer of network management software solutions that provide administrators a single point of intelligent control to monitor, analyze, and configure their wireless network infrastructure. The privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. is headquartered in San Mateo, California San Mateo is a city in San Mateo County, California, in the San Francisco Bay Area. It is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the East, and Belmont to the south. , and is backed by investors Westbury Equity Partners, Ignition Partners and Idealab. The company's patent-pending AirWave Management Platform(TM) software is sold through a global network of value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. and systems integrators. For more information, visit the company's Web site at www.airwave.com. About Westbury Westbury Equity Partners is a Long Island, NY-based investment firm managing several private equity funds. Westbury is currently deploying Westbury Equity Partners SBIC SBIC Small Business Investment Company SBIC Sustainable Buildings Industry Council SBIC Singapore Bioimaging Consortium (Singapore) SBIC School Bus Information Council SBIC Saudi Basic Industries Corporation SBIC Scsi Bus Interface Controller , L.P., a $150 million private equity fund licensed as a Small Business Investment Company (SBIC). Westbury invests $3 million to $9 million per transaction as lead investor or participant, partnering with experienced, like-minded firms. Westbury Partners can be reached through their Web site, www.westburypartners.com. |
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