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AirMagnet – Profile

January 11, 2005

HQ: Sunnyvale, CA
Founded: 2001
Management: CEO is Dean Au. He also worked at Network Associates, which acquired Network General, which acquired Cinco Networks, a start-up he founded. Follow that? Rest of the management team appears to be well-versed in the mysterious world of corporate networks and security issues.
Investors: $4.6 million in 3 rounds from Acer Technology Venture Fund and Ven Global Capital Fund.
Business Model: AirMagnet watches corporate ether for security breaches. Offers products and services which monitor corporate Wi-Fi traffic for intrusions. Also helps customers get the best performance out of their wireless networks. Company claims to have 2,600 customers worldwide in the manufacturing, financial, retail, service, health care, utility, transportation, education and government sectors.
Competitors: Wireless Security Corp., Linksys (Cisco), LucidLink , Vernier Networks
Dirt: Frost & Sullivan estimates the market for airspace security will grow to $200 million in 2005, and AirMagnet boasts 46 percent marketshare. VCs prefer billion dollar markets, but with the growth of Wi-Fi, we believe AirMagnet is well-positioned. The networking/security market is prone to mergers and consolidation, so AirMagnet could easily attract suitors. Dean Au worked at Network Associates, one of the most hyper-acquisitive software companies of Internet boom; presumably he knows how to play the game.


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