Carrius Technologies Raises $4.5M Follow-On to Its Series A Financing Round.Business Editors/High-Tech Writers RICHARDSON, Texas--(BUSINESS WIRE)--Oct. 6, 2003 Carrius Technologies has announced that it has raised $4.5 million as follow-on to its Series A financing which was completed in January, 2003. Chisholm Private Capital Partners (www.chisholmvc.com) and existing investors Star Ventures (www.star-ventures.com), Centerpoint Ventures (www.cpventures.com) and STARTech Early Ventures (www.startechev.com) participated in this round. Allen Adams Allender Steele Adams, known as Allen Adams, (16 February 1946 – 5 September 1990), was a British Labour politician. Adams was Member of Parliament (MP) for Paisley from 1979 to 1983, then for Paisley North from 1983 until his death in 1990 at the age of 44. , Chairman 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 Carrius stated that, "The leadership provided by our new investor Chisholm, and participation of our current investors in this funding reflect a vote of confidence in the strength of our vision, effectiveness of our market strategy, and our ability to continue to successfully execute our business plan. We are already in trials with customers in the US and Europe, with additional trials planned for the next quarter." Adams added, "This additional funding enables us to accelerate our development program and expand our business infrastructure." "We evaluated a number of telecom start-ups for investment, and Carrius' vision and strategies address both the near- and long-term needs of telecom service providers. Their market entry strategy addresses the immediate needs of enhanced network services An umbrella term for advanced communications services. Until the mid-1990s, everybody knew what "enhanced services" meant. They were voicemail, "one number follow me," prepaid calling card or voice-actuated call control, all offered by a carrier or service provider in a circuit-switched providers who require next generation IP-capable programmable switching platforms such as Carrius' integrated Converged Services Platform (iCSP). The iCSP then evolves to Access Gateways which can be deployed by the ILECs to extend functionality to IP endpoints and provide connectivity to both the Class 5 switches as well as the NG Softswitch networks through standard APIs," stated Jeff Williams For the poker player, see . For the physician, see . For the astronaut, see . Jeff Williams (born June 6, 1972 in Canberra) is an Australian-born, left-handed pitcher for the Hanshin Tigers baseball team. , Chisholm General Partner. Matt Blanton, CEO/Managing Partner, STARTech Early Ventures added, "At STARTech, we usually provide 'seed' investment in early-stage companies. We do, however, find Carrius' strategies and differentiation compelling, with significant ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). potential for us to warrant our additional investment at this time." "We have already begun evaluation of Carrius products at our labs in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. and Sofia, Bulgaria, and started to port our products onto the Carrius-based platform in order to quickly establish a product line with Carrius. We will be evaluating these products in live networks at our carrier beta sites An organization or group that is beta testing hardware and/or software. See beta test. in the Americas and overseas during the first quarter of 2004," said Jeff Finley Jeff Finley (born April 13, 1967 in Edmonton, Alberta, Canada) is a Canadian former professional ice hockey player and current assistant coach for the WHL Kelowna Rockets. Career , President and CEO of GLOBAL Communication Technologies, Inc. "Our business model is to provide enhanced converged services solutions on multiple platforms Refers to two or more operating environments, which typically include the CPU family and operating system. For example, if versions of a program run on Windows and the Macintosh, the software is said to support multiple platforms. utilizing multiple operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. . We believe Carrius will provide this flexibility that will greatly improve our time to market with the latest technology available and also increase the number of markets we can address worldwide. With Carrius-based products, we will have one of the fastest means available in order to bring new converged voice and data services to market currently unmatched in the industry," added Finley. About Chisholm Private Capital Partners -- Chisholm Private Capital Partners (www.chisholmvc.com) is a private equity and venture capital firm investing primarily in Oklahoma and its contiguous states. The firm currently has more than $100 million under management in three limited partnerships: ML Oklahoma Venture Partners, LP, Chisholm Private Capital Partners II, LP, and Chisholm Private Capital Partners Fund III, LP. Chisholm is usually the first institutional backer of portfolio companies and invests a total of about $1 million to $5 million in them over the course of their existence. It is also involved with later-stage deals, where it might invest $3 million to $4 million in preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. or up to $4.5 million in a mezzanine transaction. Chisholm also runs the $5.1 million Oklahoma Life Sciences Fund L.L.C., which makes seed investments of up to about $600,000. About GLOBAL Communications Technologies, Inc. -- GLOBAL Communication Technologies, Inc. (GLOBAL) (www.globaltech-us.com) is an international corporation headquartered in Dallas with subsidiary companies in Europe. North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. sales are handled from Dallas corporate headquarters. Europe, Africa, and the Mid-East are handled by Globaltech-Bulgaria in Sofia, Bulgaria, a subsidiary. GLOBAL is a full service, turnkey developer and switch solution provider of robust, flexible, customized telecommunications software products and services. GLOBAL provides comprehensive full service support, installation, training, and on-site support through a variety of service offerings. About Carrius Technologies, Inc. -- Carrius (www.carriustech.com) is developing switching platforms that enable enhanced Voice and Data Services to be deployed over traditional circuit-based networks as well as next generation packet-based networks. Carrius' solutions allow service providers to seamlessly migrate their existing services to a converged network 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. capable of supporting enhanced Voice over IP (VoIP), as well as new voice and data multimedia services. Our customers can achieve this while minimizing risks and maximizing gains. |
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