Another news article relating to the Elastic Networks VC financing.
hoovershbn.newsalert.com
Key points:
"To maintain its explosive growth, Elastic Networks also announced
this week the addition of two new members to its executive management team."
"The addition of these two seasoned industry professionals is reflective
of the value we have created for our customers and investors that
has led to our lineup of additional venture partners," said Guy Gill,
CEO of Elastic Networks. "The additional funding provided by our new
partners will allow Elastic Networks to accelerate its growth in
the dynamic broadband internet access market. The funds will be
utilized for increased investment in sales, marketing, engineering and
operations infrastructure to support our 2000 growth plans."
"Elastic Networks has recently been awarded several large contracts with
service providers in various market segments."
"The high-speed internet access market is experiencing exponential
growth and Elastic Networks next generation DSL solutions offer a very
simple and innovative way for service providers to meet the high demand,"
said Gerald Poch, a principal of Pequot Equity Funds and Pequot Venture
Funds. "We continue to be bullish on Elastic Networks growth in
this exciting market."
"By leveraging its technological differentiation in speed, deployability,
and economics, and by building strategic relationships with distributor,
chip manufacturing, and data networking partners, Elastic Networks
continues to increase the pervasiveness of its innovative technology in
markets throughout the world." |
