Sunday, March 6, 2005

Colubris Raises $15 Million for WLAN Systems

Colubris Networks, a start-up based in Waltham, Mass., secured $15 million in its third institutional round of funding for its WLAN systems.

Colubris said it now has over 1,000 customers and 60,000 WLAN devices deployed worldwide and that it holds leading market share positions in the WLAN carrier, hospitality, transportation and retail segments.

New investors DCM - Doll Capital Management and the Telecommunications Development Fund participated in the round. DCM led the oversubscribed round which also included existing investors: Prism Venture Partners, Mid-Atlantic Venture Funds and GrandBanks Capital and The Business
Development Bank of Canada. Dixon Doll, founder and managing general partner, DCM was appointed to Colubris' board of directors.

The latest funding brings the total investment in Colubris to $36 million. This investment represents a significant increase in valuation for Colubris and will be used to expand the company's global sales channels and development activities in the Enterprise WLAN market.