SANTA CLARA, Calif.-Fixed-mobile convergence technology developer Azaire Networks Inc. picked up $21 million during a third round of funding led by Investor Growth Capital and new investors in the company.
Existing investors Convergence Partners, Rustic Canyon Partners and Woodside Fund also participated in the round.
In addition, the company said Mike Ricks, chief executive officer of Investor Growth Capital Asia Ltd. and head of the firm’s office in Menlo Park, Calif., will join Azaire Networks’ board. Ricks is the former president of Ericsson China.
Azaire said it plans to use the funds primarily to beef up its sales and marketing programs for its Internet Protocol Converged Network Platform, a 3GPP-compliant wireless local area network solution that enables service providers to offer mobile broadband services through hybrid networks.
Azaire’s funding to date totals $32 million.
