Summit Partners Backs Casa Systems

Casa Systems Inc., an Andover, Mass.-based developer of network edge devices targeting IP video and broadband IP services, has raised an undisclosed amount of growth equity funding from Summit Partners.

PRESS RELEASE

Summit Partners, a growth equity investor that provides private equity and venture capital to rapidly growing companies, today announced a minority investment in Casa Systems, Inc., the leader in next generation cable edge technology.

Founded in 2003, Casa Systems offers a new category of cable network edge devices based on disruptive technologies to target the growing market opportunity in IP video and broadband IP services. The company provides next generation Cable Modem Termination Systems (CMTS) and IP video solutions for broadcast and unicast services.

Jerry Guo, Founder and CEO of Casa Systems, said, “Casa Systems has experienced tremendous growth in the last 18 months. We went from shipping a few CMTS downstream channels a few years ago, to shipping more than 8000 CMTS downstream channels in the first quarter of 2010. Casa is at an exciting point in our history and we are poised for continued high growth.  We’ve chosen Summit Partners based on its knowledge of our market combined with its excellent track record in helping to build market-leading technology companies. With the backing of Summit Partners, Casa is pursuing an even more aggressive growth strategy in both domestic and international markets.” 

“At Summit Partners, we’ve been making growth equity investments in technology companies for more than 25 years,” said Bruce R. Evans, a Managing Director with Summit Partners who will join the Casa Systems Board of Directors.  “We are seeing incredible growth in usage from data-driven services and broadband technologies.  Casa Systems’ products allow broadband and data service providers to deliver more data over their networks faster and less expensively than other legacy systems.”

“We have been extremely impressed by Casa Systems’ track record, exceptional management team and list of marquee customers,” added Jason Glass, a Vice President with Summit Partners who will also join the board.  “We look forward to working with this terrific organization to achieve even greater success.”

About Casa Systems
Casa Systems Inc. (www.casa-systems.com) is a privately held company in Andover, Massachusetts. The company offers a new category of network edge devices based on disruptive technologies to target the growing market opportunity in IP video and broadband IP services. Casa Systems provides third-generation DOCSIS CMTS products as well as universal EdgeQAM and intelligent video processing solutions for broadcast and unicast services.

About Summit Partners 
Summit Partners  is a growth equity investor that provides private equity and venture capital to rapidly growing companies. Founded in 1984, Summit has raised more than $11 billion in capital and has provided growth equity, recapitalization and management buyout financing to more than 300 growing companies across a range of industries and geographies. Summit Partners seeks outstanding management teams that have built their companies to market leadership. Summit’s notable investments in the communications technology sector include E-TEK Dynamics, Hittite Microwave Corporation, Finisar Corporation and SeaChange International.