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Filanet raises $15 million

Filanet announced that it has raised $15 million in a third round of funding, led by previous investors Lightspeed Venture Partners and Canaan Partners. The round brings the company's total financing to about $40 million. Filanet raised an $18 million second round in December 1999. The new cash will be used to expand Filanet's sales, marketing and product development efforts. The Sunnyvale, Calif.-based company makes networking hardware for small to medium-sized businesses or for remote offices of larger business. The gear provides services such as Internet routing, VPNs (virtual private networks) and firewall security.

    Filanet announced that it has raised $15 million in a third round of funding, led by previous investors Lightspeed Venture Partners and Canaan Partners. The round brings the company's total financing to about $40 million. Filanet raised an $18 million second round in December 1999. The new cash will be used to expand Filanet's sales, marketing and product development efforts.

    The Sunnyvale, Calif.-based company makes networking hardware for small to medium-sized businesses or for remote offices of larger business. The gear provides services such as Internet routing, VPNs (virtual private networks) and firewall security.