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AirTight raises $14.5 M in series C funding

By SiliconIndia  |   Wednesday, 25 April 2007, 00:00 Hrs
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California: AirTight Networks, a provider of wireless intrusion prevention solutions, announced that it closed a Series C financing totalling $14.5 million. This raises the capital invested in the business to $36.75 million.

The Series C financing was led by CMEA Ventures, and all existing investors participated in the round. Rob McIntyre, a partner at CMEA ventures will be joining AirTight’s Board of Directors.

“AirTight is a great match with CMEA Ventures’ investment philosophy - to invest in proven teams with superior technology,” said McIntyre. “AirTight leads the WIPS market in patent protected technology, positive customer validation, revenue growth, and management talent. CMEA Ventures is confident that WIPS solves the wireless security conundrum facing most enterprises, and that AirTight is leading the way.”

“We are pleased that CMEA Ventures and all our previous investors continue to share our vision and understand the growth potential of AirTight as well as the value AirTight products bring to companies serious about wireless security,” said David King, chairman & CEO of AirTight Networks. “AirTight is continuing to invest in inventing, developing, marketing, and supporting the best WIPS solution in the market.”

“Indeed recent security breaches, most notably the single largest ever at TJX which was revealed by Gartner to be a wireless attack, continue to reinforce the need for all companies to pay attention to wireless security. This holds true whether or not wireless networks are deployed. All companies need to supplement wired security and WLAN infrastructure with a full time wireless intrusion protection system to detect, classify, protect and locate wireless vulnerabilities,” continued King.

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