SOURCE: AirTight Networks

April 10, 2007 08:00 ET

AirTight Closes $14.5 Million Series C Financing

Capital to Fund Continued Rapid Expansion and Investment in Product Development

MOUNTAIN VIEW, CA -- (MARKET WIRE) -- April 10, 2007 -- AirTight® Networks, Inc., the leading provider of wireless intrusion prevention solutions, today announced that it closed a Series C financing totaling $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 with a strong background in early-stage investments in enterprise networking and security, RF and mixed-signal systems, as well as wireless LAN software, 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.

SpectraGuard Enterprise was recognized by Gartner, the Tower Group, Information Security Magazine, the Tolly Group, and others as leading the WIPS industry in 2006. Most recently, AirTight and SpectraGuard were SC Magazine January 2007 Best Wireless Security Solution award finalists.

About AirTight Networks

Founded in 2002, AirTight Networks is the leader in wireless intrusion prevention solutions (WIPS). AirTight's award-winning SpectraGuard family of WIPS products and services delivers around-the-clock wireless policy enforcement and automatic intrusion prevention against wireless security threats while monitoring wireless LAN performance to ensure maximum network uptime and capacity. The AirTight SpectraGuard solution family has achieved industry leadership based on patented technology that eliminates false alarms, blocks wireless threats immediately and automatically, and locates wireless devices and events with pinpoint precision. AirTight Networks is a privately held company based in Mountain View, CA. For more information, visit the company's Web site at www.airtightnetworks.net.

AirTight Networks, and the AirTight Networks logo are trademarks; and AirTight and SpectraGuard are registered trademarks of AirTight Networks, Inc. All other trademarks are the property of their respective owners.

Contact Information

  • Media Contacts
    Della Lowe
    AirTight Networks
    (650) 934-8191
    Email Contact

    Donna Candelori
    Candelori Communications
    (408) 774-3414
    Email Contact