Wednesday, February 9, 2011

Meraki Announces a $15 Million Round of Funding

Meraki Announces a $15 Million Round of FundingA $15 million round of funding has been announced by Meraki, a somewhat new Company in the cloud networking arena. Considered to be Company’s Series C, this round was reportedly led by Sequoia Capital.

Ever since the Company’s pre-economic-meltdown $20 million Series B in January 2008, it is in fact its first funding. As per sources Meraki has taken $40 million since its founding in 2006. And besides the funding the Company is also said to have declared some interesting growth metrics.

The startup has claimed that it has tripled its quarterly revenues year over year. Believed to be a record, it also says that it has 1,300 new customer wins in Q4 2010. And among its new customers are big names like Burger King, Albany State University, Mandalay Bay Convention Center and United Colors of Benetton.

And not only has the company reported new customers but the in the last quarter some existing customers too are said to have expanded their purchases from Meraki.

The new products from Q4 constitute routers, traffic shapers, firewalls, location services, and Networking as a Service.

Sanjit Biswas, Meraki’s Founder and CEO said in a release, “As new types of devices like iPads and Android phones enter the network, and as users migrate to bandwidth-intensive web and video applications, IT administrators are rethinking their network architectures. Meraki’s cloud networking solutions combine greater capacity and mobility with easier management to prepare enterprises for this new generation of open networks”.

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