| November 14, 2005 | Press Release |
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| Strix Systems Raises $12 Million in Financing |
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| Portfolio Company: Strix Systems |
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Calabasas, CA -- Strix Systems, the leader in high-performance wireless mesh networking, today announced it has secured $12 million in an oversubscribed round of preferred stock financing. New investor Crosslink Capital led the funding round. All of Strix's existing investors, including El Dorado Ventures, Palomar Ventures, UV Partners, and Windward Ventures, participated in the latest round.
This financing brings Strix's total venture capital funding to $54 million. Strix will use the new capital to expand its engineering, marketing, and sales organizations to meet the rapidly growing worldwide demand for its wireless mesh networking solutions. The company also announced that Bruce MacNaughton, a partner at lead investor Crosslink Capital, is now a member of the Strix board of directors.
"Strix has by far the best wireless mesh networking solution and is poised to be the leader in this rapidly growing market," said MacNaughton. "Strix has achieved strong, broad-based customer traction through a network of the best resellers in the business and has a capable and experienced management team. We believe the company is positioned to play a major role in the wireless networking market."
Strix's Access/One solutions employ a unique modular, multi-radio, multi-channel, and multi-RF wireless mesh architecture that enables the high throughput and low latency needed to support wireless voice, video, and data applications today. The architecture's flexibility enables rapid and cost-effective wireless network deployments. Strix Access/One Network Outdoor Wireless Systems (OWS) and Indoor Wireless Systems (IWS) are deployed worldwide in multi-dwelling units, hotels, and government agencies as well as in large-scale metropolitan area networks, campuses, airports, and carrier access networks.
Since announcing general availability of its outdoor product in April 2005, Strix has established significant customer traction and has added to its established network of global tier-one resellers for both indoor and outdoor customers. For example, in the city of Tempe, Arizona, Strix's OWS products support the largest multi-service WiFi network in the country, designed to deliver a triple play of voice, data, and video services throughout the city's 40 square miles for its population of 165,000 people.
Strix has assembled a world-class team of experienced management veterans from a broad variety of wireless and telecommunications companies, including Lucent Technologies, Efficient Networks, Ascend, Nortel, Bay Networks, and Atrica. This management team has been instrumental in developing and delivering the only comprehensive indoor/outdoor wireless mesh networking solution that addresses the needs of the growing wireless broadband market worldwide, including municipalities.
Strix will use the latest funding to build up its engineering team for extending its technology leadership and expand its global sales and marketing efforts in Asia and Europe for meeting a strong market demand of its products.
"Strix continues to get strong support from its existing investors, and attracted new investor Crosslink Capital, because of our superior technology and the customers we've gained for both our indoor and outdoor products," said Bruce Brown, president and CEO of Strix. "The new round of funding ensures that we have the resources we need to support further product development as well as the marketing and sales efforts needed to meet the increased global demand for our solutions."
About Strix Systems
Strix Systems is the technology leader in scalable, high-performance wireless mesh networking based on its industry leading multi-radio, multi-channel and multi-RF wireless mesh architecture. Sold globally by a network of integrators and resellers, Strix's Access/One solutions address new generation broadband mobility and reach-ability by providing the high throughput and low latency needed to support wireless voice, video, and data applications in both indoor and outdoor deployments for enterprises, public safety, municipal, metropolitan and transportation marketplace.
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