– USA, CA – Mist, a pioneer in smart wireless networking for the smart device era, today announced the close of an over-subscribed $28 million Series B financing, taking the total investment in the company to approximately $43 million. The round was led by GV (formerly Google Ventures), with additional funding from Lightspeed Venture Partners, Norwest Venture Partners, and Cisco Investments. With the latest round of financing, Karim Faris, General Partner at GV, has joined Mist’s Board of Directors.
With this additional investment, Mist will grow sales and marketing resources, continue to invest heavily in engineering and product development, develop a robust channel of Managed Service Providers (MSPs), and collaborate with leading ecosystem and Original Equipment Manufacturer (OEM) partners.
“The latest round of financing will help us further our goal of delivering amazing Wi-Fi and Bluetooth experiences to the billions of people using smartphones, tablets and laptops,” said Sujai Hajela, CEO and co-founder of Mist. “At the same time, we are committed to simplifying wireless operations and lowering IT costs by being the first vendor to bring big data and machine learning at web scale to wireless networking.”
“Mist is addressing two of the biggest issues in mobility today: reliable Wi-Fi that is easy to operate at web scale, and accurate Bluetooth location services that are seamless to deploy in any environment,” said GV General Partner Karim Faris. “Mist’s cloud-based platform uses advanced machine learning to deliver unprecedented automation and insight. This means that organizations like corporations, hotels, stores, hospitals, and universities can interact with their mobile users in exciting new ways.”
About Mist
Mist built the first wireless platform for the Smart Device era. By taking a user-first approach to networking, the Mist Intelligent Wireless Cloud (IWC) eliminates the operational burdens of legacy wireless architectures by replacing human interaction with machine learning and proactive automation. In addition, Mist takes unique advantage of user location and behavior to deliver a superior experience for wireless users and administrators.
The Mist team consists of leading experts in wireless, machine learning, and cloud, who are responsible for building the largest and most advanced networks in the world. Founded in June 2014, the company is based in Cupertino, CA and funded by top investors, including Lightspeed Venture Partners, Norwest Venture Partners, GV (formerly Google Ventures) and Cisco Investments.
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