ReefEdge said Monday that it had received $15 million toward its second round of funding. The Fort Lee, N.J.-based company hopes to raise upward of $18 million for the round, which it expects to close by the end of the summer. RRE Ventures led the round, which included investments from Allegra Partners and previous investors Bessemer Venture Partners and Columbia Capital. ReefEdge has developed software designed to enable companies to install secure wireless networks within their buildings and to increase the size of the networks as needed. The company has raised a total of $21.8 million and received a 50 percent increase in valuation with the latest round.
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