Accedian Networks(TM) Completes $7 5 Million in Series B Financing
Released on: February 13, 2008, 6:12 am
Press Release Author: Accedian Networks
Press Release Summary: RHO Canada Ventures joins current investors Skypoint Capital and Solidarity Fund QFL in follow-on round.
Press Release Body: Montreal, Canada, February 14, 2008 - Accedian NetworksTM, a leading provider of Packet Performance AssuranceTM solutions for telecom, cable and wireless operators, announced today it has raised $CAD 7.5 million in its second round of venture capital financing. Funds were provided by RHO Canada Ventures in addition to follow-on investments from Skypoint Capital and Solidarity Fund QFL.
The new financing builds on Accedian Networks' continued success, driven by innovative, market-leading service assurance solutions that help service providers provision, manage and maintain leading-edge packet-based services over Ethernet, IP/MPLS and 3G, 4G/WiMAX networks. The latest funding will fuel continued product development, and to expand sales, marketing, operations and customer service capacities in response to significant global demand.
Developed and launched over the last three years, Accedian Networks' Ethernet Service Assurance Platform (ESAPTM) and EtherNIDTM demarcation units are now deployed by service providers worldwide to establish and monitor premium-grade wireless backhaul, business access and multi-carrier network services. The products' unique in-service testing and monitoring capabilities reduce operational and capital expenditures, and enable end-to-end Service Level Agreements (SLAs) and standards-based Operations, Administrative and Maintenance (OAM) capabilities over any network.
Complementing the financing, Antoine Paquin, a Partner at RHO Canada Ventures has been recently elected to Accedian Networks' board of directors. "Funding Accedian Networks is a strategic investment in a company with exceptional performance, a focused and talented management team, and a proven product line that has established them as a key player in the rapidly growing Ethernet services and high-speed wireless communications market. Together, these factors form a compelling market opportunity for RHO Canada Ventures," explained Mr. Paquin.
"With this renewed financing, our investment partners have reinforced their support for our company, and our distinctive product strategy and vision," said Patrick Ostiguy, founding President and CEO of Accedian Networks. "Our solutions' industry-unique functionality, including the multi-vendor SLA-MeterTM and in-service performance testing have enabled and accelerated revenue generating services for our customers. With this latest funding in place, we will continue to strengthen our position as a leading vendor and innovator of packet performance assurance solutions."
Accedian Networks will be demonstrating their product line at the upcoming Comptel Spring Convention & Expo, February 24-27, in Nashville, TN. Patrick Ostiguy is an invited speaker at the upcoming Light Reading Wireless Backhaul Strategies Conference in Atlanta, GA.
About Accedian Networks
Accedian Networks is a leading provider of Packet Performance AssuranceTM solutions that enable wireless operators, service providers and cable MSOs to deliver carrier-grade, packet-based applications including VoIP, IPTV, video-conferencing and transparent LAN services over Ethernet, IP/MPLS, and wireless 3G / 4G / WiMAX networks.
Accedian Networks' Ethernet Service Assurance Platform (ESAPTM) provides in-service monitoring, loopback testing, remote troubleshooting, service management and network demarcation for high-performance wireless backhaul, business services and carrier hand-off applications.
EtherNIDTM packet assurance demarcation units allow providers to regain control of their services by establishing end-to-end, standards-based operations, administration and maintenance (OAM) over converged multi-technology and multi-provider networks, while enabling value-added services backed by assured Service Level Agreements (SLAs).
Accedian Networks is a privately held company headquartered in Montreal, Canada. For additional information, please visit: www.Accedian.com, or call 1-866-685-8181 or +1 (514) 331-6181.
Scott Sumner VP, Marketing Accedian Networks, Inc.
Accedian, EtherNID, MetroNID, SLA-meter, Performance Assurance Agent, PAA, Multi-SLA, "Packet Performance Assurance", "Delivering Service Performance with Assurance" and "Map-out the Health of your Network" are trademarks of Accedian Networks Inc. All other trademarks quoted are property of their respective owners.
Web Site: http://www.accedian.com
Contact Details: Scott Sumner VP, Marketing Accedian Networks, Inc.