Meru Networks (MERU) Receives $12 Million Growth Capital Debt Financing
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Meru Networks, Inc., (NASDAQ: MERU has received a $12 million growth capital debt financing from Western Technology Investment(WTI),a leading technology investment firm which has backed companies such as 3PAR, Facebook, Google, and Juniper Networks. The financing is structured such that $12 million will be funded immediately, and will amortize over a 39-month period.
"We believe this investment by WTI further validates Meru's strategy and approach in this vibrant and growing market," said Bami Bastani, Ph.D., president and CEO of Meru. "Meru's technology is specifically designed to meet the tsunami of bring your own device, or "BYOD" consumer devices in large organizations where conventional architectures often fail."
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"We believe this investment by WTI further validates Meru's strategy and approach in this vibrant and growing market," said Bami Bastani, Ph.D., president and CEO of Meru. "Meru's technology is specifically designed to meet the tsunami of bring your own device, or "BYOD" consumer devices in large organizations where conventional architectures often fail."
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