ReefEdge raises $6.8 million in first round financing

Start-up wireless in-building technology company ReefEdge Inc. (Fort Lee, NJ) has received first-round financing to the tune of $6.8 million. The round was co-led by Bessemer Venture Partners and Columbia Capital, LLC. As a result of the financing, Robert P. Goodman, general partner at Bessemer Venture Partners, and Jay Markley, general partner at Columbia Capital, will join the start-up's board of directors.

ReefEdge develops products that allow mobile handheld devices such as Web-enabled phones and personal digital assistants (PDAs) to become full participants in corporate networking environments. The company's patent-pending technology permits a secure wireless domain to be overlaid on an existing corporate network, enabling devices that are equipped with Bluetooth or other short-range wireless connections to have constant, reliable, and managed access to corporate resources and applications.

With the technology, users can take advantage of resources such as printers and fax machines anywhere in the enterprise and can access any application or data source instantly. ReefEdge enables easy integration with existing enterprise applications and also makes possible the deployment of "smart" mobile applications that deliver personalized, location-aware, and collaborative services.

"ReefEdge is developing a critical link between the promise of wireless technology today and the reality of wireless use tomorrow," said Bob Goodman, general partner at Bessemer Venture Partners' New York investment office. "With the strong domain expertise held by the ReefEdge management team in networking and wireless, the company is extremely well-positioned to be a leader in the enterprise wireless market."

Edited by Ellen Jensen
Managing Editor, Wireless Networks Online