Acopia Networks Raises $30 Million in Series B Financing; Round led by STAR Ventures and St. Paul Venture Capital, and Includes Charles River Ventures and Accel Partners.Business Editors/High-Tech Writers CHELMSFORD Chelmsford, city, England Chelmsford, city (1991 pop. 91,109), county seat of Essex, SE England. It is a market center (especially for cattle) for the surrounding agricultural district. , Mass.--(BUSINESS WIRE)--May 21, 2003 Acopia Networks, Inc., a developer of unique Adaptive Resource Networking products, today announced that the company has closed $30 million in additional funding. This Series B financing brings the total capital raised to over $40 million and introduces two new investors, STAR Ventures and St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Venture Capital, along with existing investors Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Ventures, Accel Partners and Cheng Wu Cheng Wu (程武; b. 201) was an officer under the Cao Wei of the Three Kingdoms period in China. Cheng Wu was the son of Cheng Yu. Cheng Wu served under Xiahou Mao when fighting against the army under Shu, then having Xiahou Mao surround and then attack Zhao Yun as to , the company's chairman. The new funds will be used to further expand the company's sales, marketing and product development efforts. The company is also announcing the appointment of Rami rami [L.] plural of ramus. rami communicantes bundles of nerve fibers connecting a sympathetic ganglion to spinal nerve; categorized as gray rami (unmyelinated postganglionic fibers) or white rami (myelinated preganglionic Kasterstein, partner with STAR Ventures, and Zenas Hutcheson Hutcheson may mean:
"Securing $30 million in today's challenging fund-raising fund-raising, large-scale soliciting of voluntary contributions, especially in the United States. Fund-raising is widely undertaken by charitable organizations, educational institutions, and political groups to acquire sufficient funds to support their activities. climate validates Acopia's vision and market potential," said Christopher P. Lynch, 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 Acopia Networks. "This new round of funding enables us to successfully build our business of providing solutions that address the utilization of storage, server and network resources and the adaptation of those resources to cost-effectively meet global service requirements." "Acopia's value proposition and business opportunity is unique in the market today," said Rami Kasterstein, partner with Star Ventures and a new Acopia board member. "Its products solve problems that contribute an immediate return on investment for customers." "We are big believers in Acopia's market opportunity," said Zenas Hutcheson, managing general partner with St. Paul Venture Capital. "Its experienced team and execution to date lead us to believe that the company is very well positioned to succeed." Acopia Networks will release the initial version of its product next month and plans to announce further details of its strategy and product plans later this summer. About Acopia Networks Acopia Networks is pioneering a new class of product, the Adaptive Resource Switch, which integrates technologies such as L4-7, server switching, file switching, and web service switching to uniquely deliver an on-demand network infrastructure. This solution empowers enterprises to "conserve, control, and adapt" their existing global IT infrastructures. The result is a dramatic reduction in storage and server capital expenditures as well as significant savings in operational costs. Adaptive Resource Switching aims to dramatically change the economics of today's distributed global infrastructures by significantly extending enterprises' existing investments in information resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. and optimizing the delivery of, and access to, data stored worldwide. Acopia Networks was founded in January 2002, and is headquartered in Chelmsford, MA. For more information, visit http://www.acopia.com/. Copyright 2003 Acopia Networks, Inc. Acopia is a trademark of Acopia Networks. All other brands, products, or service names may be trademarks or service marks of the companies with which they are associated. |
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