Trapeze Networks Raises $34 Million in Up Round; Oak Investment Partners Leads the Series B Round with a $12 Million Investment.Business Editors
PLEASANTON, Calif.--(BUSINESS WIRE)--June 11, 2003
In one of the largest single rounds of private venture funding this year for a wireless local area networking (WLAN See wireless LAN.
WLAN - wireless local area network ) company, Trapeze Networks(TM) today announced that it raised $34 million in second-round Series B funding, bringing the total investment in the company to $50 million.
Oak Investment Partners of Palo Alto Palo Alto, city, California
Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. led the Series B round with $12 million. Trapeze received additional Series B funding from venture capitalist Venture Capitalist
An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding.
Venture capitalists usually expect higher returns for the additional risks taken. firms Duff Ackerman & Goodrich and Castile Ventures, investment bankers Investment Banker
A person representing a financial institution that is in the business of raising capital for corporations and municipalities.
An investment banker may not accept deposits or make commercial loans. and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. firms Trautman Wasserman & Co. and C.E. Unterberg Towbin and its original team of first round investors. In April 2002, the original investors -- venture capitalists firms Accel Partners and Redpoint Ventures and a group of Trapeze employees -- contributed $16 million in Series A funding.
Trapeze also announced that Bandel Carano, general partner at Oak Investment Partners, was appointed to the company's board of directors. He joins Peter Wagner The name Peter Wagner can refer to several persons:
"Wireless LANs 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 are revolutionizing the way individuals get connected to the network," said Carano, whose past investments include 2Wire, Actel, Polycom, Sybase, Synopsys, Wellfleet and Wireless Facilities. "I have tremendous confidence in Trapeze. They have a seasoned executive team and a solution that dramatically improves enterprise WLAN installation and security which brings true differentiation and offers significant customer value."
"Raising one of the year's largest rounds of private venture funding in a down market is an incredible achievement," said Jim Flach, President and CEO for Trapeze Networks. "This will enable us to quickly and aggressively meet the rising customer demand for our wireless LAN solutions while maintaining a strong leadership position in this emerging market."
About Trapeze Networks
Trapeze Networks (www.trapezenetworks.com) delivers the power of business applications and services to the mobile enterprise workforce. The company's wireless LAN Mobility System(TM) enhances productivity, introduces new efficiencies and accelerates business response time by delivering secure mobility to users, pre- and post-deployment planning and management tools to IT, and seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. between wired and wireless networks. Trapeze was founded in March 2002 and is headquartered in Pleasanton, Calif.
About Oak Investment Partners
Oak Investment Partners (www.oakinv.com) is a growth-oriented private equity firm with a total of $4.2 billion in committed capital. Investments are primarily focused on growth opportunities in enterprise application and infrastructure software, telecommunications equipment and services, data storage, financial services technology, outsourced services, healthcare services and retail. Over our 25-year history, Oak has achieved a strong track record as a stage-independent investor funding more than 350 companies at various points in their lifecycle. We have been involved in the formation of companies, provided growth equity to mid- and late-stage businesses and financed management-led buyouts, as well as spinouts of operating divisions and technology assets. Our industry focus and willingness to fund operating losses operating loss
The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. associated with rapid growth sets Oak apart from traditional private equity investment.
Trapeze Networks, the Trapeze Networks logo, the Trapeze Networks flyer icon, Mobility System, Mobility Exchange, MX, Mobility Point, MP, Mobility System Software, MSS MSS - maximum segment size , RingMaster, Trapeze Access Point Access Protocol and TAPA are trademarks of Trapeze Networks, Inc. All other products and services are trademarks, registered trademarks, service marks or registered service marks of their respective owners.