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Accedian Networks, Inc. Completes $7.5 Million in Series B Financing - RHO Canada Ventures joins current investors Skypoint Capital and Solidarity Fund QFL in follow-on round
Accedian Networks, Inc. Completes $7.5 Million in Series B Financing

 

NewswireToday - /newswire/ - St Laurent, Québec, Canada, 2008/02/14 - RHO Canada Ventures joins current investors Skypoint Capital and Solidarity Fund QFL in follow-on round.

   
 
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Accedian Networks™, a leading provider of Packet Performance Assurance™ 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 EtherNID™ 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-Meter™ 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 (accedian.com) is a leading provider of Packet Performance Assurance™ 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.

EtherNID™ 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 call 1-866-685-8181 or +1 (514) 331-6181

Trademarks
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.

 
 
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Written by / Agency / Source: Accedian Networks, Inc.

 
 

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Accedian Networks, Inc. Completes $7.5 Million in Series B Financing

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Publisher Contact: Scott Sumner - Accedian.com 
514-331-6181 ssumner[.]accedian.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Accedian Networks, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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