DENVER — Telseon, the leading provider of instantly scalable optical
networks, announced today that it raised $100 million in new equity investment from leading
investment banks, strategic partners and venture firms. In addition, the company has arranged for
$75 million in capital lease financing. Since its inception, Telseon has raised more than $261
million in capital. This capital will enable Telseon to double the size of its network and continue to
develop its secure Ethernet solutions.
Led by DLJ Global Communications Partners, the telecommunications investment arm of
DLJ Merchant Banking Partners (an affiliate of CSFB Private Equity), new investments
came from Bruckmann, Rosser, Sherrill & Co., Cabletron Systems, Foundry Networks,
Ovation Capital, Lexent and U.S. Bancorp Piper Jaffray. Additionally, second round
investors Crosspoint Venture Partners, Goldman Sachs, Hunt Ventures and Sevin Rosen
Funds reaffirmed their commitments to Telseon by participating in this round.
HONG KONG — JP Morgan Partners, the private equity arm of JP Morgan Chase
& Co., has announced a US$6 million investment in UANGEL Corporation, a Korean-based
integrated wireless data and mobile commerce solutions provider. The funds have been earmarked
for expansion of the business both in Korea and cross-border.
Founded by members of the wireless networking research and development group at SK Telecom in
mid-1999, annual sales of UANGEL Corporation hit US$5.3 million in CY 2000.
SEATTLE — Asta Networks, a developer of Internet
reliability products and services, today announced that it has secured $15 million in its
second round of funding, led by Atlas Venture.
Both previous investors, ARCH Venture Partners and Madrona Venture Group, also
participated in the round. Additionally, Laura Jennings, a senior principal at Atlas Venture,
will join the Asta Networks Board of Directors.
AUSTIN, TEXAS — Lane15 Software, the leading developer of InfiniBand(TM)(1) management
software, today announced it has completed its Series A round of funding with
an investment from Lightspeed Venture Partners, a leading venture capital firm
with an extensive record of investments in Internet infrastructure software
and services companies. Lane15 will use the capital from its Series A round to
fuel its growth, and further the development and deployment of InfiniBand
technology. Lane15 had previously announced other participants in the round,
including Austin Ventures, AV Labs, Compaq Computer Corp. (NYSE:CPQ), and
BOCA RATON, FL — Boca Photonics Inc., an optical
networking company that provides service solutions focused on engineering competitive
economic advantages for network operators, announced today that it has raised $3 million
in venture financed seed funding led by VantagePoint Venture Partners of San Bruno, Calif.
(www.vpvp.com) and Alliance Technology Ventures of Atlanta, Ga. (www.atv.com).
Boca Photonics has partnered with VantagePoint Venture Partners and Alliance
Technology Ventures because of their excellent track record and commitment to the
SAN JOSE, CA — Rainfinity, the provider of continuous availability
software for business transactions over the Internet, announced today that it has
completed its second round of institutional funding in the amount of $30 million. Carlyle
Venture Partners led the round with additional funding from Intel Capital and INVESCO
Private Capital. Existing investors, including Alloy Ventures, New Enterprise Associates
(NEA), and Spinner Asset Management, also participated. This most recent round brings
Rainfinity’s total venture capital funding to more than $45 million since the company was
started in 1999.
WESTFORD, MA — Narad Networks Inc., a broadband IP
services infrastructure company, today announced it has secured $41.6 million
in its first round of private financing, led by Polaris Venture Partners and
including leading network industry entrepreneurs and executives. The company
also announced its board of directors, including veteran technology pioneers
Bob Metcalfe, inventor of Ethernet, and Rouzbeh Yassini, “father” of the cable
modem, as well as Jonathan Flint, managing general partner and co-founder of
Polaris. Narad Networks is developing next generation broadband IP access
networks and an advanced service-enabling environment. Initially targeted at
cable operators, Narad’s Virtual Fiber(TM) solution cost-effectively brings
all the benefits of fiber optic networks to existing Hybrid-Fiber Coax (HFC)
networks. By providing a solution that provides high capacity, managed
bandwidth and a software environment to rapidly enable demand-driven IP
services, Narad Networks is helping cable operators to gain additional, higher
margin revenue streams from business and industrial customers.
SUNNYVALE, CA — Paramark Inc., a pioneering developer of
technology for the automated optimization of online marketing campaigns, announced
today that it had successfully completed a second round of financing, raising more than $9
million. The largest share, $7 million, represents an investment from eVerger, which
provides funding and management expertise to marketing companies that target online
customers. The remainder comes from early stage venture capital firms and a group of
distinguished private investors with extensive operating and investing experience, many of
whom also supported Paramark’s first round of angel funding.