MOUNTAIN VIEW, Calif.-NextHop Technologies Inc., which makes software for wired and wireless local area networks, announced it scored $4.8 million in its third round of venture financing. The company said it would use the money to “accelerate NextHop’s product vision and expand sales channels for its unified wired and wireless networking software worldwide.”
New Enterprise Associates, Duchossois Technology Partners, Labrador Ventures and Parker Price Venture Capital participated in the round. NextHop said it has raised a total of $41.8 million over the course of its three VC funding rounds.
“Beyond their traditional networking software, NextHop Technologies is bringing a very innovative wireless solution to the market,” said Dick Kramlich, general partner and co-founder of NEA. “We are pleased to see that the company’s products have been enthusiastically embraced by their initial OEM customers, who are aggressively marketing and ramping production.”
