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Bluesocket Raises $10 Million in Funding Round.



BURLINGTON, Mass. -- Bluesocket, Inc. (www.bluesocket.com), the leading vendor of products that secure and manage wireless networks (WLANs) with 900+ customers worldwide, today announced it has closed its Series B round of equity financing in the amount of (U.S.) $10 million. The additional financing brings Bluesocket's total funding to date to $42 million.

The internal round had participation from current investors including Vesbridge Partners (formerly St. Paul Venture Capital), Menlo Ventures, Boulder Ventures, Ascent Venture Partners, Ridgewood Capital, and Ironside Ventures.

Bluesocket plans to use the additional funding for extending its sales channels, marketing, and further development of its award-winning family of WLAN See wireless LAN.

WLAN - wireless local area network
 Solutions including Wireless Gateways, and RF monitoring and Intrusion Protection systems.

The company also announced today it has appointed Peter Smith as Chairman of the Board, in addition to the appointment of Gary Eichhorn to the Board.

Peter Smith served as Bluesocket's interim 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.  prior to Ralph Calistri's joining the company as it's current CEO. Mr. Smith also serves as Executive Chairman of ANSYS ANSYS Analysis System , Inc. (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:ANSS ANSS Advanced National Seismic System (USGS)
ANSS American Nature Study Society
), a highly successful engineering software company where he previously served as CEO leading the company's initial public offering. In addition he is Chairman of Neartek Inc., a provider of storage management software and systems, and he is a director of several other private software companies. He has also been a senior executive and officer of Digital Equipment Corporation.

Gary Eichhorn was previously CEO of Open Market, Inc., and during his tenure the company grew annual revenues from $1 million to more than $80 million. Mr. Eichhorn has held executive management positions at Hewlett Packard and Digital Equipment Corporation. Eichhorn is currently a member of the National Association of Corporate Directors and serves as Chairman of the Board for GeoTrust, the second largest digital certificate provider in the world.

"Being one of the first companies born in the Wi-Fi security space, Bluesocket has grown rapidly within the high-growth $2 billion market for WLAN equipment," said Ralph Calistri, Bluesocket CEO. "This funding round will ensure that Bluesocket remains a leader in Secure Wireless Solutions. We will turn some heads with our product plans this year while providing a growth path for our nearly 1,000 customers."

Most recently, Bluesocket signaled its entry into the lucrative government market by announcing it had been awarded a GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM.  Federal Supply Schedule contract in addition to achieving FIPS (Federal Information Processing Standards) A series of publications issed by the U.S. National Institute of Standards and Technology (NIST) that specifies information security guidelines for federal government departments and agencies.  140-2 Level 2 certification from the US Government's National Institute of Standards and Technology National Institute of Standards and Technology, governmental agency within the U.S. Dept. of Commerce with the mission of "working with industry to develop and apply technology, measurements, and standards" in the national interest.  (NIST) and the Canadian Government's Communications Security Establishment Noun 1. Communications Security Establishment - Canadian agency that gathers communications intelligence and assist law enforcement and security agencies
CSE

international intelligence agency - an intelligence agency outside the United States
 (CSE (Certified Systems Engineer) See Microsoft certification. ). The standard defines security requirements for cryptographic tools used to protect information within IT systems. (Source: http://csrc.nist.gov/cryptval/)

Bluesocket also recently announced its WG-400 Wireless Gateway, an enterprise-class solution delivering remote administration and management, interoperability and security for wireless LANs operating in remote branch offices; and small to medium workplaces of 50 employees.

About Bluesocket

Founded in 1999, Bluesocket, Inc. is a leading manufacturer of systems to secure and manage wireless local area networks (WLANs) for enterprises, institutions and public access venues in 45 countries worldwide. Thousands of Bluesocket Wireless Gateways are deployed by leading enterprises including Harvard University, Honeywell, Universal Health Services Universal Health Services, Inc. NYSE: UHS is a Fortune 500 company based in King of Prussia, Pennsylvania. This company is one of the nation's largest health care management companies, operating acute care hospitals, behavioral health facilities and ambulatory centers , Toyota and Parker Hannifin and others who require policy-based, open-systems solutions to secure, manage, and profit from their WLANs. (www.bluesocket.com)

Secure Mobility, BlueSecure and BlueView are trademarks or registered trademarks of Bluesocket, Inc. All other trademarks, trade names and company names referenced herein are used for identification only and are the property of their respective companies.
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Publication:Business Wire
Geographic Code:1USA
Date:Jan 17, 2005
Words:581
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