Azimuth Systems Inc. in Acton, a provider of wireless testing equipment, has closed $7.5 million in new venture capital funding, the company announced.
Several major vendors rely on Azimuth for testing equipment, including Motorola and T-Mobile. Azimuth customers account for more than 95 percent of the Wi-Fi products shipped worldwide, according to market research firm ABI Research.
The firm also announced a leadership change, appointing Jim Iuliano CEO. Iuliano joins the company from E Ink Corp., a startup that grew to having a global presence and strategic alliances with Sony and Lucent. Most recently, Iuliano was an entrepreneur in residence at North Bridge Venture Partners, a Boston-based venture capital fund.
Founding CEO Ray Cronin will transition out over the next few months, and said the company looks to accelerate its growth under the new leadership. “We worked hard to find the right person to take us to the next level, and I look forward to working closely with Jim over the coming months to transition leadership of Azimuth during our significant growth phase.” Â
