2Wire Completes $61 Million Financing.Business Editors SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Oct. 24, 2001 2Wire(TM), Inc. (www.2Wire.com), the leading provider of residential gateways, today announced the completion of its latest round of financing totaling $61 million, with co-lead investors Technology Crossover Ventures (TCV TCV Total Contract Value TCV Tokyo City View TCV Treasury Corporation of Victoria (Australia) TCV Temperature Control Valve (Industrial control description) TCV Total Containment Vessel ) and Oak Investment Partners. 2Wire has raised a total of $144 million in equity investments to-date since the company's founding in July 1998. Lead investors for this round were Technology Crossover Ventures, a multi-stage venture capital firm and new investor in 2Wire, and Oak Investment Partners. Other new investors include Pilgrim Baxter & Associates and Shell Internet Ventures. Returning investors include Accel Partners, DCM DCM abbr. Distinguished Conduct Medal (Doll Capital Management), the INVESCO Private Capital Group, Meritech Capital, and Venrock Associates. "2Wire has succeeded in establishing key partnerships with some of the country's leading Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. -- Verizon, SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. and Earthlink -- which means 2Wire products are now broadly available to residential DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary customers," said Will Griffith of TCV. "With award-winning products and a first-class management team, we are confident that 2Wire will continue its market leadership, with a significant opportunity to gain further traction as the broadband market grows." "In light of the current business climate, we're buoyed by the confidence that our investors continue to show, which speaks to 2Wire's leadership position and the value of our HomePortal product offering," said Brian Hinman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 2Wire. "Our business model fully leverages a robust and flexible product platform that enables us to deliver the next-generation applications and services that Internet service providers want to provide to their customers." About 2Wire 2Wire, Inc. (www.2Wire.com) is dedicated to developing integrated products that deliver broadband content and services throughout the home. 2Wire's full suite of broadband solutions, which includes the award-winning line of HomePortal(TM) residential gateways, provides consumers with a simple, flexible way to leverage a broadband connection See broadband and wireless broadband. to enable feature-rich Internet, telephony, entertainment, and other services to be delivered to computers, phones and entertainment equipment. 2Wire was named Technology Partners Technology Outlook "Investor's Choice" for the second consecutive year. The company has also been recognized as one of the Hot 100 Private Companies by Upside magazine. 2Wire's HomePortal wireless residential gateway was awarded Best of Show honors at CES (Consumer Electronics Show) 2001. Note to Editors: 2Wire, the 2Wire logo and HomePortal are trademarks of 2Wire, Inc. |
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