Wi-Fi Security Provider Roving Planet Secures $6m in New Financing


Second Institutional Round Led by StarVest Partners; All Existing
Investors Participate

WESTMINSTER, CO -/11 Jan, 2005 - Wi-Fi Technology News/- Roving Planet, a leading provider of integrated wireless LAN security and management solutions that enable enterprises to fully leverage their Wi-Fi investments, today announced it has secured $6 million in its second institutional round of financing. StarVest Partners led the round, and all of Roving Planet's existing venture capital investors participated, including Appian Ventures, Cardinal Ventures, Draper Fisher Jurvetson (DFJ), and Wolf Ventures.

The latest round adds to the $13.5 million Roving Planet has raised over the last 2 years, bringing the total to $19.5 million raised to date. Roving Planet will use the proceeds to accelerate the development of new product modules, fuel operations and expand its sales and marketing efforts.

"In 2004 we experienced substantial success in the marketplace, and our business grew significantly. As a case in point, we have a customer using our product to manage one of the world's largest Wi-Fi networks," stated Greg Mesch, President and CEO of Roving Planet.
"Our elevated profile in the Wi-Fi space gained the attention of many leading investors, and we decided to take advantage of the financing opportunity."

StarVest Partners, L.P., the lead investor in the round, is a New York-based venture capital fund dedicated to working with outstanding entrepreneurs to build world-class e-business and software companies.
The team's four founders bring a total of 95 years of complementary investment experience. "We strongly believe in Roving Planet's software-based approach to wireless LAN security and management," stated Jeanne M. Sullivan, Co-Chairman, StarVest Partners. "Roving Planet scales to support large, complex Wi-Fi networks, comprising multiple vendors, with a comprehensive enterprise solution. In addition, Roving Planet is led by a strong management team and an experienced board of directors. We are excited to have been able to take a lead role in their latest round of financing and help fuel future growth of the Company."

Cascadia Capital, a national investment bank specializing in the financing of companies in a number of market sectors including information technology and communications, assisted Roving Planet in securing the financing.

About Roving Planet

Roving Planet (http://www.rovingplanet.com) delivers integrated wireless LAN security and management software that allows enterprises to fully leverage their Wi-Fi investment. Roving Planet's privilege-based control framework, incorporating centralized management and distributed controls, enables enterprises to support internal and external users and applications via multiple levels of network security and correlated wireless LAN intelligence.

Copyright 2005 Roving Planet, Inc. All rights reserved. Roving Planet (R) and Central Site Director(TM) are registered trademarks, and the Roving Planet logo is a trademark, of Roving Planet, Inc. All other product names mentioned herein may be trademarks of their respective companies.