August 28, 2006
Trapeze Networks Secures $30 Million in Series D Funding
Leading Network Vendors Counter Cisco with Investment in Leading Wireless LAN Provider PLEASANTON, Calif., August 28, 2006 - Trapeze Networks™, the award-winning provider of the wireless LAN (WLAN) Mobility System™, today announced it has received $30 million in round D funding, including strategic investments from Juniper Networks and other leading network vendors. The additional funding will be used to support geographic expansion and to substantially increase the company's go-to-market channel programs. Additionally, the funds allow Trapeze to accelerate its vision of next-generation wireless networks through expanded product development.
Strategic Investments from Juniper Networks
After carefully evaluating the highly competitive wireless landscape, Juniper Networks chose to invest in Trapeze based on its demonstrated success in the marketplace and track record of technology leadership and innovation. Additional investors include Nortel, Oak Investment Partners, Accel Partners, Redpoint Ventures, DAG, and Castille, who added to their previous investments in Trapeze.
Funding from Strategic Investors Validates Market Position
"Having networking industry leaders such as Juniper Networks as investors further validates our growing market position and prospects for future success," said Trapeze CEO, Jim Vogt. "This additional funding enables us to accelerate the development and delivery of next generation mobile applications such as VoIP and high-speed video, while continuing to offer the industry's most secure and manageable WLAN platform."
Trapeze Networks offers Trapeze Mobility System, a WLAN mobility solution that allows users to roam securely anywhere in a network and over any topology, including corporate headquarters, branch offices, campuses or multi-tenant/multi-use facilities. The company's system makes an existing enterprise network available wirelessly, driving the integration of wired and wireless networks and extending the power and performance of applications and services to the rapidly growing mobile workforce. The system requires no infrastructure changes so customers can effortlessly and cost effectively enhance and upgrade existing technology to meet tomorrow's wireless needs, from outside networks to voice and location applications.
About Trapeze Networks
Trapeze Networks delivers the power of business applications and services to the mobile enterprise workforce. The company's wireless LAN Mobility System enhances productivity, introduces new efficiencies and accelerates business response time by delivering secure mobility for roaming users and sophisticated services for both users and IT, all while offering the lowest total cost of ownership of any WLAN infrastructure provider. Trapeze announced a partnership with Motorola (NASDAQ: MOT) in August 2005, a partnership with 3Com Corp. (NASDAQ: COMS) in August 2004, a partnership with both D-Link and Nortel (NYSE/TSX: NT) in March 2005, and a partnership with Enterasys Networks in May 2005. Trapeze has also been the recipient of eleven industry awards, including InfoWorld's Technology of the Year award for the best WLAN solution in recognition of its product and technology strength. Founded in March 2002, Trapeze has raised $102.5 million in venture funding to date and is headquartered in Pleasanton, California, U.S.A. For more information, please visit www.trapezenetworks.com.
