Vernier Networks – Profile
HQ: Mountain View, CA
Founded: March 2001
Management: CEO is Simon Khalaf who founded JustOn in 1999, an ASP that was acquired by Novell.
Investors: $34.5M in financing to date, most recently a $10M Series D round in July 2004 with Foundation Capital (Lead), Allegis Capital, DCM-Doll Capital Management, UV Partners (Utah Ventures). Vernier is the 2nd company to be spun out of Packet Design, which was set-up by former Cisco CTO Judy Estrin, who sits on the board of Vernier.
Business Model: Security products that cross wired and wireless networks. Company believes large corporations will be the first to make the switch from wired to wireless environments and is beefing up its sales/marketing staff, but competitors are making other sales bets.
Competitors: Reefedge, Fortress Technologies, BlueSocket, and Cisco Systems.
Dirt: Given the high level of investment, company is said to be poorly valued at about $35M. Vernier needs to close significant business and move or this will likely be its death knell round.