Arriso Networks Secures $16.7 Million Series A Funding.Business Editors/High-Tech Writers RICHARDSON, Texas--(BUSINESS WIRE)--Aug. 12, 2002 Arriso Networks Inc. today announced that it has closed its Series A funding for approximately $16.7 million with participation from prominent venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] InterWest Partners, CenterPoint Ventures and Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. . Founded in January 2002 and led by a team of industry veterans, Arriso is based in Richardson, Texas Richardson is a suburb in Dallas County and Collin County, Texas. As of the 2000 census, the city had a total population of 91,803, while according to a 2006 estimate, the population had grown to 99,200. , with additional development staff in Ottawa. The company develops telecommunications products for converged networks The integration of the telephone system with IP-based data networks. See softswitch. (networking) converged network - A single network that can carry voice, video and data. , enabling network infrastructure providers to unlock stranded profits while using high bandwidth services and containing capital and operating expenditures. "To improve profitability, carriers need new service offerings that can be cost-effectively implemented," said Jon Bayless, general partner at Sevin Rosen Funds. "Designed for the current capital constrained environment, Arriso products will provide carriers quick payback of capital investment required to support new service offerings." "As investors, we are very focused on what motivates carriers to spend capital in any market condition as well as how technology can reduce operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. ," said John Adler John Herbert Adler (born August 23, 1959) is an American Democratic Party politician, who has served in the New Jersey State Senate since 1992, where he represents the 6th Legislative District. of InterWest Partner's communication and Internet infrastructure fund. "CenterPoint's decision to invest in Arriso, at both the seed level and as part of Series A financing, is based on the strength of the management and technical team and the importance of Arriso's products to critical parts of the communications sector," said Coyne Gibson of CenterPoint Ventures. "The team has a long history of success and a proven track record of delivering complex products to this market. The Arriso team is also close to its customers, and through this close collaboration the team will be able to deliver compelling, high-value products to an eager-to-consume customer." Arriso's management team is composed of members with a combined, 90+ years of telecommunications industry experience ranging from next-generation core optical data networks and system architecture design to software development of SONET multiplexers and other telecom transmission systems. Management team members built their experience working for various industry leaders including Cisco, Nortel, Fujitsu, Alcatel, Bell Labs, Siemens, Mitel Corp., Monterey Networks and Metera Networks. "Though non-disclosure agreements prevent us from discussing our customers, we can say that in this climate, if you don't have high-profile customers, you don't get this kind of funding," said Arriso Networks 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. Joe Bass. "We are very pleased that our value proposition has attracted investments from three top-tier venture firms with long histories of funding successful telecom companies." About InterWest Partners InterWest Partners, founded in 1979, is a leading diversified Venture Capital firm focused on building long-term relationships with entrepreneurs and portfolio companies to build successful companies. With $1.6B capital under management, InterWest's experienced partners bring together deep domain knowledge in medical technology, telecommunications and software. InterWest takes a long term, collaborative approach to venture funding, providing early stage and ongoing enlightened capital, management coaching and access to a broad network of resources. Examples of the firm's previous investments include ArthroCare Corporation, CIENA Corporation Ciena Corporation NASDAQ: CIEN develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom , Copper Mountain Networks, Inc., Corixa, Cor Therapeutics, Coulter Pharmaceutical, Cubist Pharmaceuticals, Lightera Networks (acquired by Ciena), PercuSurge (acquired by Medtronic), Silicon Graphics, SiTera, Stratacom (acquired by Cisco), Ventritex (acquired by St. Jude Medical St. Jude Medical, Inc. NYSE: STJ is a $2.9 billion global cardiovascular device company, with headquarters in St. Paul, Minnesota, United States. The company sells products in more than 100 countries and has over 20 operations and manufacturing facilities worldwide. ), and Xilinx, Inc. InterWest Partners has offices in Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif. and Dallas. About CenterPoint Ventures CenterPoint Ventures is a Texas-based venture capital firm that invests in early-stage high-tech companies within the communications infrastructure, business software technology, semiconductor and emerging technology sectors. Founded in 1996, CenterPoint has invested in over 35 companies including Active Power, Applied Science Fiction, Silicon Labs, Chiaro, Chorum, GlobeRanger, OraMetrix and Medical Present Value. The Firm recently closed its third fund bringing total capital under management to $450 million. For more information about CenterPoint Ventures, visit www.cpventures.com. About Sevin Rosen Funds Sevin Rosen Funds is a top-tier venture capital firm with a track record of funding successful companies since 1981. The partnership has consistently made early stage investments in pioneering technologies and companies with the potential to create new markets. The most recent fund, Sevin Rosen Fund VIII, closed in 2000 as is capitalized at $875 million. Compaq, Lotus, Cypress, Citrix, CIENA and Capstone Turbine Capstone Turbine Corporation NASDAQ: CPST, incorporated in 1988, is a California based gas turbine manufacturer that specializes in microturbine power and heat cogeneration systems. Capstone has sold and shipped more than 3,000 of these one-moving-part systems worldwide. are some of the firm's successful IPOs. Sevin Rosen Funds has offices in Dallas, Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Austin, and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . For more information go to www.srfunds.com. |
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