Oxstones Investment Club™Meraki, a relatively new company in the cloud networking arena, has just announced a $15 million round of funding. This is the company’s Series C. The round was led by Sequoia Capital.
This is the company’s first funding since its pre-economic-meltdown $20 million Series B in January 2008. Altogether, Meraki has taken $40 million since its founding in 2006.
Along with the funding, Meraki also announced some interesting growth metrics.
The startup claims it has tripled its quarterly revenues year over year. It also reports 1,300 new customer wins in Q4 2010, which it says is a record number. Some of these new customers include big-brand names such as Burger King, Albany State University, Mandalay Bay Convention Center and United Colors of Benetton.
The company says many existing customers also expanded their purchases from Meraki last quarter. New products from Q4 include routers, traffic shapers, firewalls, location services, and “Networking as a Service,” which the startup says is a “pay-as-you-go subscription model for cloud networking that eliminates up-front hardware costs and increases flexibility.”
Sanjit Biswas is Meraki’s founder and CEO. In a release, he said, “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. Meraki’s cloud networking solutions combine greater capacity and mobility with easier management to prepare enterprises for this new generation of open networks
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