Broadband hardware maker Viadux announced Tuesday that it raised $10 million in its most recent round of funding, which was led by Ampersand Ventures and the Edgewater Funds.
The company, formerly known as RC Networks, has now raised more than $40 million in four rounds. It will use the latest proceeds to finance its sales and marketing activities as well as product development. Shares issued in the previous three rounds will be converted to common stock, while shares in the recent recapitalization round are preferred stock. Common stockholders usually have voting rights in a company, while preferred stockholders have preference over common stockholders in the payment of dividends and the distribution of proceeds from the liquidation of assets.
The San Diego-based company makes broadband equipment that delivers high-speed voice, video and data services. Cable and telecom service providers install the gear in small and medium-sized businesses or apartment buildings.