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Xirrus secures USD20m in additional investment

Wi-Fi specialist Xirrus has secured an additional USD20m in a financing round led by venture capital firm InterWest Partners.

This financing round brings the total investment in the company to USD80m.

Xirrus will use the new funds to bolster its reserves and invest in partnerships with large integrators focused on making Wi-Fi the primary network connection for their customers.

The financing is anticipated to be the last round of private funding Xirrus will require.

"Times have changed since my last technology venture," says Dirk Gates, founder and chief executive of Xirrus. "Xirrus has reached critical mass and significant customer traction with far less fanfare, yet far more substance than venture-backed companies during the 1990s. We have quietly outpaced the competition by outperforming them on nearly every level – products, productivity and capital efficiency – as evidenced by many thousands of successful deployments, with 100 per cent customer satisfaction, while growing at a compounded annual growth rate of nearly 250 per cent over the past three years."

Xirrus has appointed Khaled Nasr, partner at InterWest Partners, to Xirrus’ board of directors.

"We have been monitoring the Wi-Fi industry in search of a viable investment for several years, but have been dissatisfied with the lack of differentiation and leadership among the vendors," says Nasr. "There was one Wi-Fi vendor, however, who had the leadership, vision, and products we were looking for. Xirrus not only has a management team with proven operational abilities, but they also have the vision and products to take Wi-Fi to the next level – to replace wired Ethernet to the desktop with wireless connectivity."

Xirrus manufacturers the Wi-Fi Array architecture that displaces both overlay Wi-Fi offerings and switched Ethernet and Fast Ethernet to the desktop.

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