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Colubris Networks – Profile

March 8, 2005

HQ: Waltham, Mass., with operations in Quebec, Canada.
Founded: 2000
Management: Barry Fougere is President and CEO. He was previously with Electronic Data Systems and United Technologies. Pierre Trudeau is Founder and Chief Technology Officer – and in case you are wondering, his mantra is: “centralized security is an oxymoron.”
Investors: Just raised $15MM Series D from Prism Venture Partners, Mid-Atlantic Venture Funds, The Business Development Bank of Canada (BDC), GrandBanks Capital. Doll Capital Management joined and led the most recent round. Brings total raised to $36MM.
Business Model: Company designs, develops and manufactures secure wireless networking solutions designed to support enterprise, government agency and service provider applications.
Competitors: Aruba Wireless Networks, Meru Networks, Airespace (acquired by Cisco in January), Trapeze Networks.
Dirt: When we wrote about Colubris competitor Aruba last November we said: This space has been arguably overfunded and the shakeout has begun. With Airespace going to Cisco for $450MM in January, we’re going to stick with our thesis. Industry pubs have been floating a rumor that Juniper will buy either Aruba or Trapeze Networks to keep pace with Cisco. As for the unfortunately-named Colubris, we think the addition of Doll Capital as an investor is a good sign. Dixon Doll brings cred and connections in the networking infrastructure sector. He won’t be afraid to flip his investment if the price is right.

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