Bob Friday - Mist Systems co-founder and former Cisco CTO
The local channel activity of “self-learning” wireless networking start-up, Mist Networks, could be set to ramp up after closing a US$46 million funding round.
The Series C financing round sees the Californian artificial intelligence-powered networking solution vendor’s total funding tally to date surge to US$88 million, with the latest round of financing set to see the company grow sales and marketing resources globally.
Mist Systems was founded by ex-Cisco executives, including former wireless and cloud networking group vice president, Sujai Hajela, and former Cisco CTO, Bob Friday.
The company has made a name for itself thanks to its artificial intelligence-driven WLAN platform, designed to make Wi-Fi predictable and more reliable.
The new funding round was led by Kleiner Perkins, with additional funding from Lightspeed Venture Partners, Norwest Venture Partners, GV (formerly Google Ventures), NTT DOCOMO Ventures, and Dimension Data.
While the fresh investment will see the company continue to pump money into engineering, especially in the area of AI, it is expected to also substantially contribute to the ongoing development of its partner network, both globally and in Australia and New Zealand.
Mist Systems is very much a channel-focused company and has already built relationships with partners, including value-added resellers and managed service providers, in various markets.
At least some of the company’s new capital injection will be pumped into fresh resources to support customers and partners in the A/NZ region. Specifically, Mist Systems will continue to develop a robust channel of MSPs and collaborate with leading ecosystem partners.
As part of this growth, the company is also building out its local presence in A/NZ.
“Mist Systems recognises the growth opportunities in A/NZ and is looking to expand its reach and coverage throughout the region with a focus on key industries, including hospitality, gaming and retail, government, and telecommunications,” Mist Systems’ A/NZ director of sales, Zohar Cohen, said.
“Mist Systems will sell directly and through the channel in the local market to maximise opportunities in the region and help quickly expand its presence,” he said.
