SAN FRANCISCO–(BUSINESS WIRE)–June 23, 2003–Vivato, a Wi-Fi infrastructure company, today announced it raised $44.5 million in its Series C funding round, bringing the total investment in thecompany to $67 million.
Advanced Technology Ventures (ATV), a leading bi-coastal venture capital firm, led Vivato’s third funding round and was joined by all of Vivato’s previous investors, including Leapfrog Ventures, U.S. Venture Partners, Walden International and Intel Communications Fund.
Vivato will use the funds to sustain the momentum for production of its first 2.4 GHz Wi-Fi switch, which started shipping to customers this month, and to develop its next generation wireless local area network (WLAN) product line.
“As the first company to develop an indoor/outdoor wireless switch, Vivato is revolutionizing the wireless industry. The company’s unique technology enables faster, more secure Wi-Fi connections over longer distances, satisfying an explosive market,” said Jos Henkens, general partner, Advanced Technology Ventures. “We feel that Vivato has the right combination of innovative technology, an experienced management team, and a group of investors committed to seeing the company succeed.”
“We appreciate ATV’s leadership in this round of funding and believe their participation is a tremendous vote of confidence for Vivato’s approach for achieving ubiquitous Wi-Fi,” said Ken Biba, Vivato co-founder, CEO and chairman. “The strength of ATV’s support and the additional investment from existing investors puts Vivato on solid ground for continued innovation and delivery of 802.11 products.”
About Vivato
Vivato is the inventor and first manufacturer of Wi-Fi switches for enterprises and service providers designed to enable high bandwidth Wi-Fi wireless networks everywhere: in the enterprise, across campuses and throughout metropolitan areas. Vivato is headquartered in San Francisco with a research and development center in Spokane, Wash. For more information, please visit www.vivato.net or call 415/495-1111.
About ATV
Founded in 1979, Advanced Technology Ventures (ATV) is a bi-coastal venture capital firm with more than $1.5 billion in capital under management. ATV works closely with entrepreneurial teams across several markets, including communications, IT infrastructure, software and services, and healthcare, to build emerging-growth business ventures into market leaders. For more information, visit www.atvcapital.com.
