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BayPackets wins $21.7 million funding

BayPackets announced Monday it received a $21.7 million third round of funding, co-led by Investcorp and TL Ventures. Intel Capital and previous investors Blueprint Ventures, Diamondhead Ventures, INC3 Ventures, Lucent Venture Partners and TeleSoft Partners contributed to the round. Representatives from Investcorp and TL Ventures will receive a board seat. The Fremont, Calif.-based company has raised a total of $43.7 million to date. BayPackets develops software to enhance voice and data for wireless, wired and cable operators.