Celox Networks closes $80 million in third-round financing

July 18, 2001--This recent funding brings the company's total funding received since its founding in January 1999 to $155 million.

Celox Networks, a provider of scalable edge aggregation and IP service switch for large service providers, announced it has closed an $80 million third round led by Putnam Investments and Firsthand Capital Management, Inc. This brings the company's total funding received since its founding in January 1999 to $155 million.

In addition to Putnam and Firsthand, other new investors in this round include Dain Rauscher Wessels, J.P. Morgan Capital, Pacesetter Capital, SG Cowen and Thomas Weisel Partners. Along with the new investors, many of the company's existing investors from its first two rounds invested again in the third round, including: ABS Ventures, Adams Street Partners, A.G. Edwards, Apex Investment Partners, Bank One, Bay Partners, Hexagon Investments, Pilot House Associates, Rosewood Capital and the Texas Pacific Group. IBM has also become an investor in Celox Networks, expanding its current technology and services relationship with the company.

Celox Networks plans to use the additional funding for on-going product development and to ramp up production of the Celox SCx 192 in anticipation of shipments to customers later this year.

The Celox SCx 192 is designed to enable carriers, ILECs, ISPs, ASPs, greenfields and cable operators to aggregate and deliver value-added IP services over any access connection. The switch delivers up to 80 Gigabits per second (Gbps) of actual throughput, incremental support for hundreds of thousands to millions of simultaneous sessions, and features the widest support for network interfaces, ranging from DS-3 through OC-192c, and reaches a record density of 1,536 DS-3s.

About Celox Networks:

Founded in 1999, Celox Networks designed and developed a scalable edge aggregation and IP service switch for cost-effectively evolving large service provider networks. For more information, visit www.celoxnetworks.com.

More in Business