Meru Networks raises $27.6M

By SiliconIndia   |   Tuesday, 20 March 2007, 05:00 Hrs
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SUNNYVALE: Meru Networks announced that it has closed its latest round of venture funding, raising $27.6M in a Series D round led by leading global investment and technology development firm the D. E. Shaw group. Dr. Vaduvur Bharghavan, who is current Chief Technology Officer, founded this wireless infrastructure solutions company that enable the All-Wireless Enterprise in 2002.

Other investors in this round include existing Meru investors Lehman Brothers, Clearstone Venture Partners, NeoCarta Ventures, BlueStream Ventures, Evercore Ventures and JumpStartUp Venture Fund. "This round of funding will enable us to continue to expand our sales and marketing organizations as well as increase investment in further research and development innovation," said Ihab Abu-Hakima, president and CEO of Meru. "Each of these initiatives will help Meru better support the growing number of enterprise customers looking to deploy and benefit from the industry’s most advanced wireless local-area network infrastructure solutions."

In addition, two new members will join Meru’s Board of Directors, Andre Turenne, an executive of the venture capital unit at the D. E. Shaw group and Barry A. Newman, venture partner of NeoCarta Ventures. Turenne has 25 years of operating, technical and venture investment experience in the technology sector. "As the industry moves toward the All-Wireless Enterprise, we’re confident that Meru will extend its lead as the category leader," said Turenne. "Meru’s advanced architecture provides a level of performance assurance, quality and reliability that is unsurpassed, and demand continues to grow for the Meru solution around the globe."

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