(From miami.com) Nexland growing with wireless networks...
miami.com
Posted on Mon, Jun. 10, 2002
CHATROOM | South Florida's Tech Scene
Nexland growing with wireless networks
BEA GARCIA
bgarcia@herald.com
ALLAN SCHOENING / FOR THE HERALD
NEW ROUTE: From left, Nexland president Gregory Levine and founder Daniel Sulton.
As the popularity of wireless networks continues to rise, a Miami company is finding itself right in the middle of this growing market.
Nexland makes routers for wireless high-speed Internet access, which offer a path through virtual private networks that many businesses use. These private networks permit secure remote access in large offices or for telecommuters. Nexland routers allow several workers to share one Internet connection at the same time.
Originally founded in Paris by Daniel Sulton in 1994, Nexland established an outpost in Miami to service an initial U.S. client in 1997. The client fizzled out, recalls Gregory Levine, but the company decided to stay in South Florida.
Levine, who is Nexland's president, joined in 1998 to develop new business. He zeroed in on Fortune 1000 companies. In 1998, he bagged a big client, Fidelity Investments. Nexland tailored its solution to provide Fidelity with multiple simultaneous Internet connections all using IPSec, an Internet security protocol with 256-bit encryption at the network level.
Nexland sales have jumped from $300,000 in 1998 to $4 million last year. Levine hopes sales can double this year.
Several recent deals should help the company meet that goal.
Since last fall, Nexland has been manufacturing routers to be sold under the Symantec label. This month, the company completed a deal with Alienware, which will offer its wireless devices to buyers of its computer video gaming systems.
Nexland went public in 2000 through a reverse merger, raising just $100,000. The market collapsed before it had a chance to tap it for more. It raised $5 million through a line of credit last October.
The company has 30 employees in Miami, with design, development, sales and marketing based here. Manufacturing is done in Melbourne. Sulton today is chief technology officer.
Thanks to Raging Bull's Plumber for this posting.
d:oug |
