This is an important growth-financing event for AvaLAN Wireless because it augments our financial resources and enables us to accelerate our growth into new markets and new products.
Huntsville, AL (PRWEB) April 02, 2012
Alabama based AvaLAN Wireless Systems, Inc. has raised over $700,000 in Series B financing led by the Huntsville Angel Network. AvaLAN is a growth-stage company developing unique and secure industrial wireless technology. Additional participation in the round came from the Auburn Angel Network and a number of private individual investors including Pete Bodine and Spencer Tall who are both managing directors at Allegis Capital in Palo Alto, California.
“This is an important growth-financing event for AvaLAN Wireless because it augments our financial resources and enables us to accelerate our growth into new markets and new products,” said Matt Nelson, Chief Executive Officer of AvaLAN Wireless Systems, Inc.
The company's strategy of focusing on the explosive growth in the smart grid, IP-based security, digital signage and government cryptography markets has already yielded increases in the sales pipeline. Increases in its working capital position will insure sufficient funding to fuel AvaLAN’s next phase of growth beyond the 40,000 industrial wireless devices already shipped.
AvaLAN Wireless Systems, Inc. is a specialist in the industrial long range Wireless Ethernet market with point-to-point products, point-to-multipoint systems and mesh networking. It offers robust and reliable solutions for both non line-of-sight 900 MHz and line-of-site 5.8 GHz wireless Ethernet technology. AvaLAN's solutions offer affordable Ethernet connectivity at the network's edge, connecting machines to the internet and machines to machines. AvaLAN provides its customers with a way to replace costly wiring with a wireless Ethernet solution that can remotely connect surveillance cameras, digital signage, biometric scanners, access control devices and industrial networking. AvaLAN's products offer the ideal combination of price, data rate, security, interference avoidance, quality-of-service and ease-of-use that professional installers and industrial applications demand. AvaLAN Wireless Systems, Inc. is headquartered in Madison, Alabama, with remote offices in California and Canada.
About AvaLAN Wireless Systems, Inc.
Founded in the heart of California’s high-tech Silicon Valley in 2004, AvaLAN Wireless (“AvaLAN”) is an industry leading developer and manufacturer of long range industrial wireless radio technology. AvaLAN’s products are designed to enable affordable wireless connections in perimeter or remote locations. Specializing in the unlicensed 900 MHz, 2.4 GHz and 5.8 GHz radio bands, AvaLAN offers a number of Ethernet bridge products and point-to-multipoint wireless networking products. AvaLAN Wireless Systems, Inc. is headquartered near Huntsville, Alabama and can be contacted at 866-533-6216, by email at info(at)avalanwireless(dot)com, or by visiting http://www.avalanwireless.com.
About Huntsville Angel Network
The Huntsville Angel Network is a group of individuals and companies that have joined together to make the angel investing process work better in the Huntsville, Alabama area. The Huntsville Angel Network, or HAN, serves as a forum where angel investors can come together to reach out to technology, manufacturing, and services-based businesses seeking capital. The HAN helps them prepare their investment case, perform due diligence, make individual investment decisions, and participates in monitoring of investments through the group. The HAN also serves as a single place where companies seeking capital can go to be exposed to the most active investors in the area, thus increasing efficiency of capital access for them. The HAN’s goal is to make the angel investing process more efficient for investors and capital-seeking businesses, and to make it work better overall for growing the community’s economic base.
About Auburn Angel Network
AAN is a group of proven business leaders interested in investing in high-growth, early-stage companies. We believe we contribute more than money to the companies we fund and welcome the opportunity to work with entrepreneurs who are open to taking advice, yet have the smarts and determination to make their company successful. We view ourselves as true partners with shared goals and visions. Our focus is on early-stage companies, usually looking to raise $100K to $1M. We do have the ability to fund larger deals (up to a $3M raise) via syndication or co-investment with other angel groups. The company should be close to the commercialization stage and have a clear and defensible competitive advantage. AAN does not invest as a fund—each of our members makes his or her individual investment decision—but we collaborate in due diligence. We are open to any opportunities that can make a strong business case and can take the position of a lead investor.
© 2012 by AvaLAN Wireless Systems, Incorporated. All rights reserved. AvaLAN Wireless and the AvaLAN Wireless logo are registered trademarks of AvaLAN Wireless Systems, Incorporated. All other trademarks are the property of their respective owners.