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Vernier receives $24.2 million

Vernier Networks said Monday that it has raised $24.2 million in its second round of funding, bringing the company's total financing to $34.5 million. Allegis Capital and Financial Technology Ventures led the round, and each gained a seat on the company's board of directors. The company's previous investors such as Foundation Capital, Doll Capital Management, Masthead Venture Partners and Weber Capital Management also participated in the round. Vernier makes equipment for wireless LANs (local area networks) that run on 802.11 technology. The Mountain View, Calif.-based company will use the cash to accelerate product development, expand sales and marketing activity, and support its ongoing business operations.

    Vernier Networks said Monday that it has raised $24.2 million in its second round of funding, bringing the company's total financing to $34.5 million. Allegis Capital and Financial Technology Ventures led the round, and each gained a seat on the company's board of directors. The company's previous investors such as Foundation Capital, Doll Capital Management, Masthead Venture Partners and Weber Capital Management also participated in the round.

    Vernier makes equipment for wireless LANs (local area networks) that run on 802.11 technology. The Mountain View, Calif.-based company will use the cash to accelerate product development, expand sales and marketing activity, and support its ongoing business operations.