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Software maker Nominum said it has received $10 million in funding from Bessemer Venture Partners and Morgenthaler Ventures. The Redwood City, Calif.-based company, which provides Domain Name System services and software, said it named Cristi Garvey as the new vice president of engineering and Richard Probst the new vice president of product management. Several employees of the company were the original creators of the Domain Name System, which runs many of the key Internet functions. "Closing this significant investment round in a difficult funding climate is a testament to the vision of our investors, and underlines the important role that Nominum will play in the management of network resources," Nominum CEO Chris Risley said in a statement. The company said it would use the money for product development.
Bluesocket, a maker of wireless networking gear, has raised $16 million in its second round of funding. Ridgewood Capital and Boulder Ventures co-led the round, with participation from Intel Capital, St. Paul Venture Capital and private investors. The Burlington, Mass.-based company has now raised $20 million in funding, including a $4 million first round from St. Paul and Osborn Capital in 2000. The company makes equipment for wireless LANs (local area networks) that run on protocols such as Bluetooth, 802.11g, 802.11a and 802.11b, which is also known as Wi-Fi. Bluesocket said that Ridgewood Capital and Boulder Ventures would each gain a seat on its board of directors; Matt McConnell, a former Cisco Systems executive and CEO of Compatible Systems, will also join the board.
BigBand Networks raised $27 million in its third round of funding, which brings the total funding for the maker of cable TV routers to $57 million. New investors included round leader Charles River Ventures, Lauder Partners and CommVest. Previous investors Redpoint Ventures, Pilot House Ventures, Cedar Fund and Evergreen Investments participated in the latest round. BigBand will use the financing to expand sales, marketing and development of its gear. The Fremont, Calif.-based company's customers include Time Warner Cable, Cox Communications, Rogers Cable and Blue Ridge Communications. BigBand's products help cable companies provide subscribers with digital video broadcasts, HDTV (high-definition television), video-on-demand and interactive television services.
Paratek Microwave raised $17 million in its fourth round of funding, the company announced, bringing its total to $53 million. Previous investors Morgenthaler Ventures and Novak Biddle Venture Partners led the round, which included participation by other firms such as Investor AB and DB Capital Venture Partners. Founded in 1998, the Columbia, Md.-based company makes components and antennas for wireless equipment manufacturers and service providers. Paratek closed its $24 million third round of funding last year with contributions from Morgenthaler and Investor AB as well as J.P. Morgan Partners.
Woodside Networks said Nokia Venture Partners has invested $4 million in the wireless technology company. The cash infusion brings the Palo Alto, Calif.-based company's funding to $32 million, which includes a $20 million second round led by Accel Partners and Sevin Rosen Funds. The company is developing technology for wireless local area networks (LANs) that run on the 802.11b or Wi-Fi, and 802.11a networking standards. Nokia Venture Partners is a VC firm mostly backed by Nokia, a maker of mobile phones and wireless equipment.
TeraChip closed an $11 million round of funding from Accel Partners and Benchmark Capital. The deal gives Accel a spot on TeraChip's board of directors and brings the Israel-based chipmaker's total funding to $15.5 million, which includes a $4 million investment by Benchmark last year. The company makes telecom-equipment chips that power metropolitan networks, which carry data within cities, computer data storage networks and LANs (local area networks). TeraChip will move its headquarters to San Francisco later this year and plans to use the recent financing to recruit senior marketing, sales and engineering staff, the company said.
Network Intelligence raised $8 million in first-round funding. Ascent Venture Partners led the round and Egan-Managed Capital and JMI Equity Fund also contributed. The Walpole, Mass.-based company makes software and hardware that monitors activity within business computer networks for possible security issues and will use the funding to fuel its domestic and international sales efforts. Starting in 1992 as Opensystems.com, Network Intelligence was a reseller of products by Cisco Systems. The company then sold its reseller business and came out in 1996 with Private I, network security software for small and medium-sized businesses. The company released its enVision software for large corporations this year along with hardware to run its software.
Azanda Network Devices raised an additional $7 million from Newbury Ventures and other contributors to complete a second funding round of $26 million, bringing the company's total funding to $36 million. The recent funding gives Newbury Ventures a seat on Azanda's board of directors. The maker of chips for optical telecom gear said in March that it raised a $19 million second round from original investors such as Bessemer Venture Partners, Commonwealth Capital Ventures, Goldman Sachs and Highland Capital Partners. The Sunnyvale, Calif.-based company is now working on getting its chips ready for market and plans to release a data traffic-management chip this quarter.
Bullrun Financial raised $6.4 million in the second stage of its first round of funding, bringing the round's total to $14 million. The additional funding was led by original investor Mission Ventures along with contributions from private investors. The company raised $7.6 million in March 2001. Princeton, N.J.-based Bullrun makes software for large financial institutions such as banks, investment firms and government investment arms. The software's aim is to help these outlets manage financial portfolios by providing them with real-time data such as stock analysis and recommendations. Bullrun will put the funding toward product development and sales in its target markets.
Chipmaker T-Networks completed its second round with $30.6 million in funding, the company announced. Past investors Greylock, Intel Capital, Sequoia Capital, US Venture Partners and Vitesse Semiconductor contributed to the round, along with newcomer TL Ventures. The Allentown, Penn.-based T-Networks will use the financing to beef up its engineering team and to continue developing its products and sales efforts. The company makes indium phosphide chips for optical telecom equipment that can transmit data at 10gbps (gigabits per second) and 40gbps. T-Networks expects to make sales revenue and reach volume production of its chips by the second half of this year. Indium phosphide and silicon germanium chips are less common than silicon dioxide-based chips but have speed advantages for specialized uses such as communications gear.
Cavium closed its second round of funding with $15.5 million, the telecom chipmaker announced, bringing its total funding to $23.5 million. The round was led by Menlo Ventures, which gains a seat on Cavium's board of directors, and included contributions from previous investors Alliance Ventures and Diamondhead Ventures. Cavium makes networking chips for routers, switches, servers, computer-data storage gear and VPN (virtual private network) equipment. The company made its first chip samples in March and announced a design partnership with communications chipmaker Advanced Micro Circuits in December. Cavium closed its first round last July with participation from Alliance, Diamondhead, Beachhead Capital, Appleseed Partners and other investors.
IP Infusion closed a $14.7 million third round of funding, bringing the chip software maker's total financing to $20.4 million since the company started in 1999. The round was co-led by Formative Ventures in the United States and by ImGO Limited in Hong Kong, which is an investment holding company owned by Investor AB, Ericsson, Hutchison Whampoa and the Guoco Group. Other investors included the Intel Communications Fund and Wilson Sonsini Investments. The company makes software for networking chips used by telecom gear manufacturers. The software runs on IP (Internet protocol), the standard that virtually all communication over the Internet is based on. IP Infusion also makes products for Internet Protocol version 6 (IPv6), a newer technology that has gained acceptance in the industry as the limitations of older networking technology become apparent.