MOUNTAIN VIEW, Calif.-AirTight Networks, a security provider for Wi-Fi networks, said it closed on a second round of financing worth $12 million. The round raises the total amount of capital invested in AirTight to $22.5 million.
Trident Capital led the latest round of funding, and was one of the company’s first round investors. Trident Capital’s managing director, John Moragne, now sits on AirTight’s board of directors.
“Trident Capital has a strong focus on security technology, and we’re excited about AirTight’s tremendous potential as a market leader in a rapidly emerging space,” said Moragne. “Over 97 percent of all enterprises have wired perimeter security solutions today, but less than 2 percent have the equivalent wireless perimeter security functionality. AirTight has won a number of important head-to-head bake-offs against its competition. The company is executing very well and we are committed to AirTight’s success.”
Although Siemens Venture Capital is a newcomer to AirTight’s list of investors, all of AirTight’s first-round investors also participated in the company’s second round.
“Siemens Venture Capital invests in companies that complement our corporate vision and technology strategy in the networking and communications industry,” said Louis Rajczi, investment partner at Siemens Venture Capital. “AirTight’s position as a leader in the wireless perimeter security market is a good fit with our perspective on how wireless technologies will pervade the enterprise and public network markets, and the corresponding need to secure these network connections.”
AirTight explained that its development team focuses on maintaining network and mobile client integrity from Wi-Fi security vulnerabilities.
