Santa Clara-Based Aerohive Networks Lands $23.5M in Third Round

Santa Clara, Calif. – Aerohive Networks, a Santa Clara-based developer of wireless architecture that eliminates the need for network controllers, said that it has raised $23.5 million in its third round of funding. Participants included both new and previous backers. Previous investors have included Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, and Northern Light Venture Capital. The company, which now has raised $47.5 million since its inception in 2006, said that it will use the proceeds to expand its sales and marketing activities, as well as continue the development of its wireless LAN technology.
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