Xelerated Adds $13 Million

Xelerated, a maker of Ethernet ASSP-based chipsets for carriers, has raised $13 million in fifth-round funding. The Sixth Swedish National Pension Fund led the round, and was joined by fellow return backers Accel Partners, Alta Partners, Amadeus Capital Partners and Atlas Ventures.

 

PRESS RELEASE

Xelerated, the global leader in field-proven Carrier Ethernet ASSP-based chipsets, today announced it has closed a $13 Million funding round. This round was led by the Sixth Swedish National Pension Fund (the Sixth AP Fund) and was supported by all of Xelerated's existing investors: Accel Partners, Alta Partners, Amadeus Capital Partners and Atlas Ventures. The new funding will be used to further develop Xelerated's unique network processor and Ethernet switching family as well as extend sales and support internationally.

Xelerated has shown impressive revenue growth with its X11 network processor wins with leading system vendors in the United States, China, Japan, Europe and Israel. Now, with its new HX300 family of products, Xelerated is ideally suited to capitalize on current market trends, says Mats Augurell, Sixth AP Fund. The company's extension into the access market along with its rapid revenue growth assured us of our decision to reinforce the financing of the company. The additional funds will enable Xelerated to continue expansion of its sales and support activities worldwide.

Xelerated recently announced its HX300 family of network processors and the industry's first programmable Ethernet switches to the fiber access market. This new family of products feature integrated traffic management and fully-programmable Ethernet switches, bringing superior levels of integration and flexibility to the Carrier Ethernet market. This innovative technology platform also enables mass deployment while significantly reducing costs of advanced Fiber Access solutions.

This funding gives Xelerated the capacity to continue its expansion in this growing market and to further develop our new HX300 product family, and strengthen our vision of becoming the number one supplier of feature-rich Ethernet solutions for Metro, Access and High-end Enterprise systems, says Thomas Axelsson CEO of Xelerated. It is also particularly gratifying that all our previous investors participated in this round, and we appreciate their complete confidence in Xelerated's strong tier one customer base, growing revenues and future products.

About Xelerated

Xelerated is the global leader in field-proven next-generation ASSP-based Carrier Ethernet chipsets. The Xelerated Dataflow Architecture delivers wirespeed deterministic performance, enabling network equipment vendors to build fully-programmable carrier-class systems that reduce R&D costs, minimize risk and accelerate time-to-market. With its highly flexible network processor platform and linearly scalable products and solutions, Xelerated is an integral part of Tier One carrier networks around the world, and a vital component of any Metro, Access, or High-end Enterprise market.

The company has offices in Santa Clara, Stockholm, Tel Aviv and Beijing. For more information, visit www.xelerated.com.