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Aerohive Adds Fifth Venture Capital Investment

Thursday, September 13, 2012 5:35:00 AM PDT | VentureDeal

Sunnyvale, California  --  Wireless networking company Aerohive Networks has garnered $22.5 million in its fifth round of venture capital financing.

Aerohive has developed what it calls "cooperative control wireless LAN architecture" that eliminates wireless LAN controllers.

Institutional Venture Partners led the round, which included previous investors Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, New Enterprise Associates and Northern Light Venture Capital.

The company said it would use the financing to beef up its sales and engineering teams.

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