Aerohive Networks raises $75M in IPO

Posted Mar 29, 2014

Aerohive Networks is a company that has designed and developed a cloud-managed mobile networking platform that allows enterprises to deploy a mobile-centric edge. Aerohive’s has four components: Cloud Services Platform, HiveOS, client management software, and a portfolio of hardware products.

Aerohive Networks debuted on the New York Stock Exchange on Friday with the ticket symbol “HIVE.” Aerohive raised its original target of $75 million after pricing its shares at $10.

Prior to the IPO, Aerohive raised $100 million in venture funding. The company’s investors included Lightspeed Venture Partners, New Enterprise Associates, Kleiner Perkins, and DAG Ventures.

[Source: GigaOM]