One of the Alliance Venture companies:
Thursday May 25, 11:04 am Eastern Time
Company Press Release
Campio Communications Secures $27M Venture Financing
Names Raj Singh Interim CEO
MILPITAS, Calif.--(BUSINESS WIRE)--May 25, 2000--Campio Communications Inc., a developer of next-generation carrier-class IP service switches announced today that it has secured $27 million in venture capital financing. Investors include leading venture capital firms like New Enterprise Associates (NEA), Alliance Ventures, The Ignite Group, Redwood Venture Partners and Needham Capital Partners, amongst others.
Campio also announced that Raj Singh has been named interim CEO. Raj Parekh, Chairman of the Board of Campio Communications and Managing Partner of Redwood Venture Partners said, ``Raj Singh brings a legendary wealth of industry experience and a history of founding successful companies.'' He was a cofounder of FiberLane, which subsequently spun off into Cerent, Siara Systems and Cyras. He also founded Roshnee, StratumOne Communications and InterHDL. ``The market opportunity is huge and we are excited about the feedback received from various prospective customers regarding Campio's planned system'', Parekh added. Redwood Venture Partners focuses on seed and early stage investments in high-tech companies and has an impressive portfolio of communications, networking, Internet/e-Commerce, semiconductor and design tool companies.
``One of the key enablers for the growth of business-to-business e-Commerce will be the availability of the next generation IP services. Providers of these IP services will be demanding switches that are easy to provision and manage'', said Tom McConnell, general partner at NEA (Menlo Park, CA), a leading venture capital firm, whose portfolio includes 3Com, Ascend Communications, UUNET Technologies, Juniper Networks and Xros, amongst others. ``Campio's highly integrated and scalable IP service switch architecture will enable service providers to differentiate content and customer, and offer profitable new services. We are excited about Campio's technology, team and the market space'', McConnell added.
``We have been attracted to Campio's market opportunity and the breadth and depth of the team's experience in carrier class hardware, software, ASIC and service management,'' said C.N. Reddy, of Alliance Ventures, a Santa Clara, CA-based venture firm involved in funding leading edge opportunities in telecommunications, networking systems and semiconductors.
``After doing a thorough search of the emerging companies in this market, we were very impressed with Campio's technology and the team,'' said Steve Payne, General Partner of The Ignite Group, a Redwood City, CA-based venture capital firm, focused on Internet and communications investments. ``We see Campio's offering fitting well with carriers' plans to provide new services,'' added Payne.
Campio Communications is a manufacturer of next-generation carrier-class IP service switches designed to operate scalably at optical speeds, enabling a variety of value-added services. Campio's IP switches are architected to help service providers leverage IP and offer value-added services such as multimedia content delivery, outsourced routing, MPLS and IPSec VPNs, QoS, encryption, and on-demand bandwidth provisioning. In addition, Campio's TMN-ready management framework enables service providers to provision, manage and bill for IP-differentiated services easily. Campio's headquarters are located in the Silicon Valley, in Milpitas, with a development office in Raleigh, North Carolina in the Research Triangle Park. For additional information, visit www.campio.com.
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Contact:
Campio Communications, Inc.
Prasad Vepa, 408/519-3813
or
Callaghan Communications
Marilyn Callaghan, 650/342-6087 |
