CENX, a provider of service orchestration solutions for software-defined networks, has secured an undisclosed amount of funding. The investors were return backers Highland Capital Partners, Mesirow Financial Private Equity Inc, Verizon Ventures, Ericsson, DCM Ventures and Cross Creek Advisors.
February 24, 2015 – OTTAWA, Canada. CENX, a global leader of Service Orchestration solutions for software-defined networks, today announced strong growth in its business over 2014. Key achievements for the year ended December 31, 2014 include:
Achieved 500% growth in global revenue with strong profitability and cash generation
Completed multi-million dollar deployments with two of the top four U.S. mobile operators
Expanded global customer base with wins in Europe and Asia
Enhanced cloud data center offering to provide enterprise on-demand interconnectivity
Closed multi-million dollar deals with a global Managed Services strategic partner
CENX’s traction in the marketplace is driven by Cortx Service Orchestrator, which has emerged as a vital component in next-generation software-defined and virtualized networks. The Cortx solution empowers service agility and significant operational efficiencies in delivering a variety of differentiated data services, such as enterprise connectivity, cloud data center exchange, machine-to-machine, VoLTE, and 4G mobile backhaul. These quality-assured services are instrumental for enterprises that rely on ubiquitous, reliable data connectivity.
To accelerate its global business growth, CENX also announced that it has closed an additional round of financing, in which all current investors have participated: Highland Capital Partners, Mesirow Financial Private Equity Inc., Verizon Ventures, a subsidiary of Verizon Communications Inc (NYSE, NASDAQ:VZ), Ericsson (NASDAQ:ERIC), DCM Ventures, and Cross Creek Advisors.
“CENX’s success is evidence of the tangible business value we deliver to our customers, and we’re excited about our future global prospects. We have built a strong foundation for continued growth with Cortx Service Orchestrator,” said Ed Ogonek, President and CEO of CENX. “With this latest round of financing, our investors have given our strategy a strong vote of confidence.”
“CENX is positioned at the forefront of a high-growth market segment that is propelled by consumer and enterprise demand for highly agile, secure, assured broadband services, anytime and anywhere,” said Sean Dalton, Partner with Highland Capital Partners. “CENX has a great opportunity to transform the way those services are delivered, given its innovative approach in leveraging network big data to optimize network operations.”