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A group of investors thinks so. The San Francisco start-up lands a $3 million investment from Venrock, Broadcast.com founder Mark Cuban and Friendster founder Jonathan Abrams.
Neo Photonics announced that it raised $10 million in an additional portion of its most recent funding round. The total investment for the round is $35 million. Investors behind the extra funding, announced last week, include CDP Capital-Technology Ventures, Rockport Capital Partners and Linkmore Capital. The group that contributed the initial $25 million in March includes Bay Partners, Venrock Associates, Institutional Venture Partners, SBV Venture Partners and Dow Corning. As a result of this financing, Bay Partners and CDP will each receive a seat on the board of directors of Neo Photonics, a Fremont, Calif.,-based company that makes components for optical telecom equipment.
P-Cube announced Monday that it has raised $35 million in funding for its third round, bringing the Sunnyvale, Calif.-based company's total financing to $65 million. Granite Global Ventures led the round along with contributions from new investors Venrock Associates and Accel Europe. Previous P-Cube investors Accel Partners, ComVentures, Evergreen, Sandoz and Venture TDF also participated in the round. P-Cube makes hardware and software that enables telecom carriers and Internet service providers to charge based on the specific services that customers use over their networks. Carriers can analyze network traffic on a per-packet, per-user basis, which lets them offer services based on usage patterns.
Vocera Communications said Tuesday that it has raised $12 million in its third round of funding, bringing the Cupertino, Calif.-based company's total funding to $20.1 million. Venrock Associates led the round, and RRE Ventures, Vanguard Ventures, Avalon Ventures and Ideo contributed. Vocera was founded in 2000 and raised $1 million in its first round and $7.1 million in a second round. The company makes software and hardware that provides an instant voice communication system for wireless LANs (local area networks) that run on 802.11b, or Wi-Fi, technology. Vocera's software runs on networking gear in buildings or campuses and enables voice communication between individuals who wear its badges. Vocera expects its product to ship this fall and is targeting hospitals, retail stores and other businesses with mobile workers that need to communicate.
AccessLine Communications completed a $24 million third round of funding, the company announced Friday, bringing its total financing to about $85 million. Mellon Ventures led the round with new investors Alexander Hutton Venture Partners and CDIB Venture Management. Previous investors Gabriel Venture Partners, Venrock Associates, SunAmerica Ventures and Riverside Management contributed to the round. The Bellevue, Wash.-based company provides software and hosting services to large businesses that lessen the need for hardware for communication services such as voice mail, conference calls, paging and fax services. Using AccessLine's services can lower a customer's communication costs, the company said. The funding will last until AccessLine reaches cash flow break-even, currently expected in about a year, company spokeswoman Lauren Calaby said. AccessLine will probably not raise another venture capital round and is considering an initial public offering.
Polaris Networks closed its second round of funding of $52 million, the company announced Monday. The round was led by Advanced Technology Ventures, which gains a seat on Polaris' board of directors, with new investors WK Technology, First Hand Capital Management and others. Previous investors such as Redpoint Ventures, Venrock Associates and Storm Ventures from the company's $22 million first round contributed to the funding. Polaris makes an optical switch for metropolitan telecom networks, which handle data within urban areas. The company, which was founded in June 2000, plans to have its gear completed for customer trials in the second quarter this year and ready to ship to customers sometime in the fourth quarter. Polaris has signed four trial agreements with either local "Baby Bell" carriers such as Verizon or long-distance phone companies such as AT&T.
PerformanceRetail raised a $25 million second round of funding, led by Venrock Associates and U.S. Venture Partners. Granite Global Ventures also participated in this latest round. Houston-based PerformanceRetail has raised a total of $37 million. The company develops software applications designed to connect sales data with management software tools and back-office systems.
Maxxan, a San Jose, Calif., company trying to make networks of storage devices more powerful and cheaper to run, has named Vic Mahadaven chief executive and has secured $20 million in funding, the company said Tuesday. The funding was an extension of an earlier financing round in May by Venrock Associates and U.S. Venture Partners. New funding came from Lucent Venture Partners, Ironweed Capital, Trellis Partners, UMC, United Investment, the China Development Industrial Bank, Premier Capital Management and Western Technology Investment. Mahadaven had been head of Compaq's storage division from 1995 to 1997 and CEO of iVita, a software company that helped companies keep track of their assets. Maxxan co-founder and former CEO Lih-Sheng Chiou now is chairman and vice president of engineering.
Endeca announced Monday that it received a $15 million second round of funding. Investors included Ampersand Ventures, Bessemer Venture Partners and Venrock Associates. Cambridge, Mass.-based Endeca has raised a total of $25 million. The company's software, Endeca Navigation Engine, is designed to allow people to quickly locate and access catalog, commerce and corporate data.
SteelEye Technology has raised a $20 million second round, led by Dali, Hook Partners. Other investors included Compaq Computer, CrossBridge Partners, Hitachi, Intel 64 Fund, Massey Burch Capital and Venrock Associates. Mountain View, Calif.-based SteelEye has raised a total of $33 million. The company's software is designed to easily link servers together to continuously act as one unit and can be used by companies of all sizes. See complete list.