Crosslayer Networks Receives $6 Million Equity Investment
FREMONT, Calif.--(BUSINESS WIRE)--Aug. 13, 2001--Crosslayer Networks Inc., a developer of advanced silicon solutions for next-generation metropolitan and enterprise networks, today announced the closing of a $6 million Series A equity investment. The lead participant in this first-round financing was Alliance Ventures IV, a limited partnership investment fund that invests in emerging companies in the semiconductor market areas. This financing will allow Crosslayer to expand its design and research-and-development capabilities, and to add to its operations and customer support infrastructure.
Also participating in the investment round were AmidZad, LLC, Crescent Venture Investors, Solar Venture Partners, LP, Galaxy Venture Partners LLC, and a number of individual investors. AmidZad is a private venture capital firm, with an affiliated network of investors, that provides capital and value-added services to high-technology startups. Crescent is a private investment firm that focuses on software, communications and semiconductors.
``We're very excited about closing our first equity investment round, and about the caliber of the investors,'' said Ahmad Esmaeili, president and CEO of Crosslayer. ``We feel that this is an endorsement of our strategy and corporate direction, which is to focus on addressing the needs of system vendors providing next-generation switches and routers to the enterprise and metropolitan area network markets.''
Among the primary needs of the enterprise local area network (LAN) market are reduction of network costs and complexity, enhanced performance and improved overall operation. For the metropolitan area network (MAN), major requirements include offering new value-added and differentiated services, ensuring high reliability and reducing network costs by improving utilization of network resources. System vendors providing equipment to these markets must, therefore, improve the price/performance ratios of their products, increase port density, offer QoS (quality-of-service)-enabled, carrier-class platforms, and reduce system complexity. Crosslayer is addressing all of these requirements by developing a highly integrated and flexible architecture that combines packet processor and switch fabric functionalities supporting such emerging technologies as 10-gigabit Ethernet and MPLS (multi-protocol label switching). The architecture will provide the integration and flexibility of programmable switch-on-a-chip solutions, offer the features and scalability of hard-wired ASICs (application-specific integrated circuits), and achieve industry-leading port densities and performance.
``Crosslayer is working on key technology that will offer unprecedented integration, scalability and features to the networking world,'' said V.R. Ranganath, President of Alliance Venture Management. ``It will allow Ethernet-based connectivity to be extended from local area networks into metropolitan networks, providing more features and performance at a lower price. We're delighted to be a part of that effort.''
``We view Crosslayer as an ideal candidate for our support,'' said individual investor Robert Shaw, who is President and CEO of venture capital firm SVIC. ``They're developing an enabling semiconductor technology that will increase the capabilities of networks while reducing the cost of implementing them. We're excited about the opportunity to help make that happen.''
Crosslayer Networks Inc.
Headquartered in Fremont, California, Crosslayer Networks is a privately held developer of highly integrated, scalable silicon solutions that bring advanced quality-of-service (QoS) capabilities to next-generation switches and routers. Founded in August 2000, the company aims to become the leader in providing powerful, flexible semiconductors to system vendors creating tomorrow's local area network (LAN) and metropolitan area network (MAN) infrastructure.
Crosslayer's combined packet-processor and switch fabric architecture accommodates such emerging technologies as 10-gigabit Ethernet and MPLS (multi-protocol label switching), and allows system vendors to create products that deliver rich features, high scalability and pacesetting performance at low power and an attractive price point. More information about Crosslayer Networks is available on the company's Web site at www.crosslayer.com.
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