BCE Capital Leads Oversubscribed Equity Round for NexTone.GAITHERSBURG, Md. -- $10 Million Financing Led by New Investor BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Capital, the Venture Arm of BCE Inc. (Bell Canada Bell Canada Enterprises (TSX: BCE, NYSE: BCE), legally BCE Inc., is a major Canadian telecommunications company. Through its subsidiaries including Bell Canada, Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for Enterprises) NexTone(TM) Communications, the market leader in scalable session management of real-time IP services such as voice over IP, announced today it has closed $10 million in Series C funding, bringing the company's total financing to $32.5 million. The up round was led by BCE Capital, the venture arm of Bell Canada Enterprises, and included participation from all existing investors: Core Capital, Mid-Atlantic Venture Funds, Safeguard Scientifics, Inc. (NYSE NYSE See: New York Stock Exchange :SFE See Sydney Futures Exchange. ), Delmag Ventures, and Blue Rock Capital. David McCarthy David McCarthy (born 16 July 1983 in Dublin) is an Irish sprinter who specialized in the 400 metres and began racing over 800 metres in 2007. He finished seventh at the 2002 World Junior Championships in Kingston and fifth at the 2003 IAAF World Indoor Championships in of BCE Capital will join the NexTone Board of Directors. NexTone develops end to end session management products that allow carriers to route, manage, and control real-time IP traffic seamlessly and cost effectively. NexTone will use the new funding to accelerate its penetration into top-tier global carrier accounts, increase investment in product development, and expand its marketing and sales organizations. Since going live with its first customer twenty-four months ago, NexTone session management products have been deployed in more than 140 carrier networks worldwide and currently manage a capacity of more than 3 billion minutes of VoIP traffic per month. "NexTone has demonstrated its ability to deliver substantial innovative solutions to the carrier community and is a clear leader with respect to customers and traffic volume," said David McCarthy, managing director at BCE Capital. "NexTone has already proven to be a great company with a growing customer base and a highly capable team. BCE Capital is looking forward to adding our experience to the team to help bring their innovation and entrepreneurial edge to the marketplace." "NexTone's technology is a must-have network component that fills a critical void in the VoIP product suites offered by incumbent equipment vendors such as Cisco, Sonus, Nortel and others," said Hank Firey, chief executive officer of NexTone. "With a heavily oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. round, we had the enviable challenge of selecting our lead investor from among the premier 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] and strategic investors in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . We chose BCE Capital based on the industry relationships, credibility, and domain knowledge that their principals and parent company, Bell Canada Enterprises, bring to bear." About BCE Capital BCE Capital is the venture capital investment arm of BCE Inc., a leading Canadian communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. . As a member of the BCE's family of companies, BCE Capital has access to a wealth of key industry knowledge in the communications and information technology areas and is committed to investing in innovative projects that help bring real value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. solutions to the marketplace. BCE Capital invests in early-stage telecommunications technology companies in Canada and the US, through its offices in Toronto and Ottawa. For more information, visit www.bcecapital.com. About NexTone Communications NexTone Communications develops carrier-grade products that provide scalable control of real-time IP services, such as voice over IP (VoIP). NexTone solutions enable carriers, service providers and enterprises to securely, simply, and cost-effectively interconnect networks for end-to-end control and management of IP traffic. NexTone's real-time IP technology can dramatically reduce carrier capital expenditures while providing ongoing operational efficiencies, such as reduced interconnect turn-up time and simplified network operations. NexTone is headquartered in Gaithersburg, Maryland USA with domestic and International sales offices worldwide. For more information, visit www.nextone.com. |
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