Arriso Networks secures $16.7 million in Series A funding
August 12, 2002--Arriso Networks Inc. announced that it has closed its Series A funding for approximately $16.7 million with participation from prominent venture capital firms InterWest Partners, CenterPoint Ventures and Sevin Rosen Funds.
Arriso Networks Inc. announced that it has closed its Series A funding for approximately $16.7 million with participation from prominent venture capital firms InterWest Partners, CenterPoint Ventures and Sevin Rosen Funds.
Founded in January 2002 and led by a team of industry veterans, Arriso is based in Richardson, Texas, with additional development staff in Ottawa. The company develops telecommunications products for converged networks, enabling network infrastructure providers to unlock stranded profits while using high bandwidth services and containing capital and operating expenditures.
"To improve profitability, carriers need new service offerings that can be cost-effectively implemented," said Jon Bayless, general partner at Sevin Rosen Funds. "Designed for the current capital constrained environment, Arriso products will provide carriers quick payback of capital investment required to support new service offerings."
"As investors, we are very focused on what motivates carriers to spend capital in any market condition as well as how technology can reduce operating expenses," said John Adler of InterWest Partner's communication and Internet infrastructure fund.
"CenterPoint's decision to invest in Arriso, at both the seed level and as part of Series A financing, is based on the strength of the management and technical team and the importance of Arriso's products to critical parts of the communications sector," said Coyne Gibson of CenterPoint Ventures. "The team has a long history of success and a proven track record of delivering complex products to this market. The Arriso team is also close to its customers, and through this close collaboration the team will be able to deliver compelling, high-value products to an eager-to-consume customer."
Arriso's management team is composed of members with a combined, 90+ years of telecommunications industry experience ranging from next-generation core optical data networks and system architecture design to software development of SONET multiplexers and other telecom transmission systems. Management team members built their experience working for various industry leaders including Cisco, Nortel, Fujitsu, Alcatel, Bell Labs, Siemens, Mitel Corp., Monterey Networks and Metera Networks.
"Though non-disclosure agreements prevent us from discussing our customers, we can say that in this climate, if you don't have high-profile customers, you don't get this kind of funding," said Arriso Networks President and CEO Joe Bass. "We are very pleased that our value proposition has attracted investments from three top-tier venture firms with long histories of funding successful telecom companies."