Arch Rock Raises $10 Million in Series B FundingMay 15, 2007
Investment will support company's expansion in wireless sensor network market.
SAN FRANCISCO, CA--(BUSINESS WIRE)--Arch Rock Corporation, a pioneer in open-standards-based wireless sensor networking, has raised $10 million in a second round of venture funding which closed May 2.
Investors in the Series B funding are New Enterprise Associates (lead investor) and Shasta Ventures, both of Menlo Park, CA; and Intel Capital, Santa Clara,CA. All three were participants in Arch Rock's Series A funding round of $5 million in October 2005.
Arch Rock CEO Roland Acra said the new funds will be used to continue the development momentum that has enabled the company to bring its first two products to market over the past eight months, as well as to expand sales, marketing and business development efforts.
"The participation of all three of our previous investors in this new round represents a tremendous vote of confidence in Arch Rock's progress since our initial funding 18 months ago, and in our future direction," Acra said. "We introduced and shipped the first wireless sensor network based on ubiquitous, standard IP networking and service-oriented architecture, enabling customers to integrate their sensor data into the larger information infrastructure and manage it efficiently. And our aggressive product roadmap promises to let users further expand visibility into their physical spaces, assets and processes using a new class of low-power, highly autonomous meshed wireless sensor networks built around that IP and SOA paradigm."
Arch Rock's board of directors includes Acra; Arch Rock co-founder and chief technology officer David Culler; Forest Baskett of NEA; Rob Coneybeer of Shasta Ventures; and Judy Estrin, chairman and CEO of Packet Design, LLC.
About Arch Rock Corporation
Arch Rock is a pioneer in open-standards-based wireless sensor network (WSN) technology. The company's products, which gather data from the physical world and integrate it into the enterprise IT infrastructure using IP networking and web services, are used in environmental monitoring, tracking and logistics, industrial automation and control. Arch Rock's founders, while at the University of California-Berkeley and Intel Research, did seminal research and development work on WSNs, creating three generations of wireless sensor nodes, mesh networking protocols, and the leading operating system for sensor networks. For more information, visit the company's Web site.
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