SAN FRANCISCO – February 8, 2011 – Meraki, the cloud networking company, today announced record results for the quarter ending December 31, 2010. The company more than tripled its quarterly revenues compared to the previous calendar year and reported a record number of new customer wins. In the fourth quarter, Meraki released several innovative cloud-managed products, experienced significant growth and recognition in the channel, and secured an additional $15 million investment led by Sequoia Capital. Meraki ended 2010 with over 17,000 networks deployed worldwide and over 35 million client devices connected.
“As new types of devices like iPads and Android phones enter the network, and as users migrate to bandwidth-intensive web and video applications, IT administrators are rethinking their network architectures,” said Sanjit Biswas, founder and CEO of Meraki. “Meraki’s cloud networking solutions combine greater capacity and mobility with easier management to prepare enterprises for this new generation of open networks.”
1,300 customer wins across all key verticals
New customers in the fourth quarter included Burger King, Albany State University, Telluride Medical Center, Mandalay Bay Convention Center and United Colors of Benetton. Meraki also reported expansions by existing customers including Stanford, Telmex, Epic Management and THQ.
New cloud-managed wireless access points, routers and software products
In the fourth quarter, Meraki released new products across all enterprise product lines:
- Meraki MR12 and MR16 wireless access points, with improved performance and the lowest profile industrial design in their class.
- The Meraki MX, the industry’s first cloud-managed router, with integrated traffic shaping, application firewall, and site-to-site VPN.
- Cloud-based layer-7 application firewall and traffic shaper, the first of its kind for wired and wireless networks.
- Location Services, a free software upgrade for all enterprise wireless customers, allowing administrators to quickly and easily track the location of WiFi devices.
- Networking as a Service, a pay-as-you-go subscription model for cloud networking that eliminates up front hardware costs and increases flexibility.
Significant growth and recognition in the channel
Meraki’s momentum in the market also strengthened the business of its channel partners. Meraki was recently recognized with Emerging Vendor of the Year awards from national resellers Zones and PC Mall (NASDAQ:MALL.) Meraki finished Q4 2010 with over 650 approved channel partners.
$15M series C funding, led by Sequoia Capital
Meraki added $15 million in funding, bringing the total investment in the company to $40 million. The round was led by Sequoia Capital, backers of Cisco, Apple, and Google. The funds will be used to continue research and development in Meraki’s cloud networking technologies and to scale sales and marketing activities.
Meraki is the leader in cloud networking with over 17,000 networks deployed worldwide. Meraki’s cloud networking solutions combine rich enterprise features with intuitive web-based management that eliminates specialized training and certifications. Meraki is located in San Francisco, California and is funded in part by Sequoia Capital and Google. For more information, visit https://meraki.com/