Mist, a Cupertino, CA-based developer of self-learning wireless networks powered by Artificial Intelligence (AI), closed a $46m Series C financing.
The round, which takes total investment in the company to approximately $88m, was led by Kleiner Perkins Caufield & Byers, with additional funding from Lightspeed Venture Partners, Norwest Venture Partners, GV (formerly Google Ventures), NTT DOCOMO Ventures, and Dimension Data. In addition, Mamoon Hamid (General Partner at Kleiner Perkins) and Rob Lopez (Group Executive – Networking and Data Centre at Dimension Data) have joined Mist as board observers.
The company intends to use the funds to grow sales and marketing resources globally, continue to invest in engineering, especially in the area of Artificial Intelligence, to develop a channel of Managed Service Providers (MSPs) and collaborate with ecosystem and Original Equipment Manufacturer (OEM) partners.
Led by Sujai Hajela, CEO and co-founder, Mist provides an AI-driven wireless platform, designed specifically for the Smart Device Era, which makes Wi-Fi predictable and measurable by providing visibility into the user experience and by replacing time consuming manual IT tasks with proactive automation.
In addition, Mist brings enterprise-grade Wi-Fi, BLE and IoT together to deliver personalized, location-based wireless services without requiring battery-powered beacons.
The company has over 150 reseller partners worldwide, including distributors in North America, EMEA, and Japan.