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Accedian Networks Completes $7.5 Million in Series B Financing

Wireless Backhaul

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February 13, 2008

Accedian Networks Completes $7.5 Million in Series B Financing

By Anshu Shrivastava, TMCnet Contributor
 

Accedian Networks (News - Alert), a provider of Packet Performance Assurance solutions for telecom, cable and wireless operators, announced that 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, according to Accedian Networks officials. The latest funding is expected to fuel continued product development, and expand sales, marketing, operations and customer service capacities.

Officials stated that the new financing builds on Accedian Networks’ continued success, driven by service assurance solutions that help service providers provision, manage and maintain packet-based services over Ethernet, IP/MPLS and 3G, 4G/WiMAX (News - Alert) networks. 

Accedian Networks’ Ethernet Service Assurance Platform (ESAPTM) and EtherNIDTM demarcation units are now deployed by service providers to establish and monitor wireless backhaul, business access and multi-carrier network services.

Officials pointed out that the products’ in-service testing and monitoring capabilities reduce operational and capital expenditures. In addition, they also enable end-to-end Service Level Agreements (SLAs) and standards-based Operations, Administrative and Maintenance (OAM) capabilities over any network.

Antoine Paquin, a Partner at RHO Canada Ventures has been recently elected to Accedian Networks’ board of directors. Commenting on the latest funding, Paquin said in a statement, “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.”

“With this renewed financing, our investment partners have reinforced their support for our company, and our distinctive product strategy and vision,” stated Patrick Ostiguy (News - Alert), founding president and CEO of Accedian Networks.

He expects that with this latest funding in place, his company will continue to strengthen its position as a “leading vendor and innovator of packet performance assurance solutions.”

Anshu Shrivastava is a TMCnet Contributing Editor.
Wireless Backhaul





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