WESTLAKE VILLAGE, Calif. – October 16, 2003 – Strix Systems, Inc. announced today it has secured an additional $15 million in preferred stock financing, bringing the total investment in the company to $34 million.
Southern California-based Windward Ventures and San Francisco-based CMEA Ventures co-led this round with participation from UV Partners and existing investors Palomar Ventures and El Dorado Ventures.
"Windward Ventures aims to invest in companies that have not only inventive technology, but a core of fiscally sound and experienced management," said James Cole, managing partner at Windward Ventures. "Strix Systems is no exception. It has a strong and seasoned management team to match the innovative wireless LAN system it is shipping."
"Strix Systems will benefit from the knowledge and insights our new partners provide," said Bruce Brown, CEO of Strix Systems. "The demand from the venture community exceeded our expectations. We expect this round to take us to profitability."
About Strix SystemsStrix Systems designs, develops, and markets enterprise wireless networks that enhance productivity and efficiency by providing users with instant information via continuous, secure connections to company networks. Unlike traditional wireless LAN solutions, the Strix Systems Access/One Network uses a mesh topology via a wireless Ethernet backhaul and adapts to changes without requiring human intervention. It serves all wireless devices using 802.11a/b/g, Bluetooth, or future RF technologies simultaneously on a single enterprise network.
Based in Westlake Village, California, the company has developed an extensive portfolio of patent-pending technologies. For more information about Strix Systems, please visit
www.strixsystems.com.About Windward VenturesWindward Ventures is a classic venture capital partnership organized in 1997 to produce superior investment returns by providing capital and management assistance to early stage, high growth companies in Southern California. The firm manages a dedicated pool of capital provided by a group of institutional investors, wealthy individuals and successful entrepreneurs. In addition, the firm occasionally manages direct investments on behalf of its limited partners. The partners of Windward Ventures have extensive experience as venture capital investors, senior managers, and entrepreneurs.
About CMEA VenturesCMEA Ventures is a San Francisco based venture capital firm that was established in 1989 and specializes in high technology and life sciences investments. CMEA invests in both early and late stage companies, and actively partners with its extended network of companies, other VC firms, institutional investors, strategic partners as well as entrepreneurs.
About UV PartnersUV Partners, established in 1986, with offices in Salt Lake City and Los Angeles, is a leading early stage private equity investment group. UV Partners provides the foundation for the development of early-stage entrepreneurial concepts into tomorrow's industry-leading Information Technology and Life Science companies.