Lemur Networks Raises $6M in A-Round Funding to Bring Innovative Directory Based Service Delivery Solutions to Cable Broadband.Business & High-Tech Editors SHREWSBURY, N.J.--(BUSINESS WIRE)--July 19, 2002 Investors include Rho 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. who join seed investor, Silicon Alley An area in New York that has become known for its companies devoted to multimedia and the Internet. It is located in Manhattan's "Soho" district, which does not stand for Small Office Home Office, rather it is SOuth of HOuston Street. Seed Investors Lemur Networks, Inc. (www.lemurnetworks.com) an innovative service delivery platform for IP services provisioning, announced the closing of $6 million in series A financing led by Rho Ventures and Sevin Rosen Funds, with existing seed investor Silicon Alley Seed Investors (SASI (Shugart Associates Systems Interface) A peripheral interface developed by Shugart in 1981 that evolved into the ANSI SCSI standard in 1986. It was renamed SCSI because ANSI does not allow corporate names in its standards. See SCSI. ) participating in the round. Along with the funding, Amra Tareen, Partner at Sevin Rosen Funds, and Habib Kairouz, Managing Partner at Rho Ventures, join Dr. Seyhan Civanlar, Co-Founder, Dr. Inder Gopal, 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. at ReefEdge, and Josh Grotstein, Partner at Silicon Alley Seed Investors on the board of Lemur Networks. Lemur will use the funds to scale its low cost and robust service delivery platform for the cable broadband industry. Lemur also plans to increase its development capacity, cultivate business partnerships and marketing relationships and increase awareness of its brand. "During the past 18 months, investors have taken a cautious approach in their investment choices, particularly regarding A Round financing. Receiving funding from such a respected group of firms reinforces Lemur's position to become the premier service delivery platform for the cable broadband industry," said Seyhan Civanlar, co-Founder and CEO of Lemur. "We invested in Lemur because of their innovative IP Services Provisioning Platform, that gives control back to the Cable MSO (1) (Multiple System Operator) Typically refers to a cable TV organization that owns more than one cable system, but it may refer to an operator of only one system. to manage very complex services such as IP Telephony The two-way transmission of voice over a packet-switched IP network, which is part of the TCP/IP protocol suite. The terms "IP telephony" and "voice over IP" (VoIP) are synonymous. ," said Amra Tareen, Partner at Sevin Rosen Funds. "The Cable MSO's are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. quick rapid deployment of underlying infrastructure and the new products and services they enable. Lemur is provides 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). in the first year, which will enable the Company to quickly penetrate the Cable MSO marketplace," said Habib Kairouz, Managing Partner at Rho Ventures. Because Lemur's platform is based on lightweight "directories" (vs. databases), it lends itself particularly well to a "write once, read many" environment such as the cable industry; in which customer information which is stored in the devices touching the Internet throughout the cablesystem, including cable modems, CMTS (Cable Modem Termination System) A computerized device that enables cable modems to send and receive packets over the Internet. It inserts IP packets from the Internet into MPEG frames and transmits them to the cable modems via an RF signal. , softswitches, customer service systems, billing systems, etc., must be synchronized and kept up to date in real time. Lemur's patent pending Directory Activation Server See activate. (DAS) technology enables instant, "Push", synchronization of data stored within the LDAP (Lightweight Directory Access Protocol) A protocol used to access a directory listing. LDAP support is implemented in Web browsers and e-mail programs, which can query an LDAP-compliant directory. directory with all other systems that need to share data. The founders and management team are out of AT&T Labs, Rogers Cable, AT&T Broadband, Bell Canada, and Coreon, are world experts in LDAP directory technology, telecommunications software, and Provider's IP operations environment. They have on their advisory board cable technology luminaries such as Edward Horowitz, Stephen Dukes, Dr. Walter Ciciora, and well-respected Executives such as Dr. Hamid Ahmadi, Ana Pinczuk, Krishnamurty Kambhampati and Murthy Vangala. The platform has been deployed and operating in Adams Cable, and Lemur is in later stages of discussions with other MSO's. About Lemur Networks Headquartered in Shrewsbury, NJ, Lemur Networks' I-Fabric(TM) is a directory-enabled service fulfillment platform for broadband service providers, which enables the rapid delivery of revenue generating IP-based voice, data and video services. Lemur Networks will initially be addressing operations needs of Cable MSOs offering provisioning and activation of high-speed Internet access, and IP Telephony. Lemur's quick ROI platform uses an Information Model and an LDAP directory to create an intelligent global data infrastructure which translates an attached OSS's local data into a globally unique format and enables service related data to flow between the OSSs and IP network for real-time service activation and on-going management. A patent pending feature of Lemur's platform is the ability to synchronize data and "push" changes across the network and back office systems in real time. About Rho Ventures Rho Ventures is a New York-based venture capital firm with extensive investments in information technology, health care and telecom sectors. Since it was founded in 1981, the firm has invested in numerous companies including Active Power, Capstone Turbine, Ciena, Commerce One, Compaq Computer, Copper Mountain, Diversa, Human Genome Sciences Human Genome Sciences NASDAQ: HGSI is a biopharmaceutical corporation founded in 1992. Its stated purpose is to "discover, develop, manufacture and market innovative drugs that serve patients with unmet medical needs, with a primary focus on protein and antibody drugs. , MedImmune, and Versicor. Aggregate venture capital under management exceeds $1 billion. Additional information can be found at www.rho.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 are some of the firm's successful IPOs. Sevin Rosen Funds has offices in Dallas, Palo Alto, Austin, and San Diego. For more information go to www.srfunds.com About Silicon Alley Seed Investors Silicon Alley Seed Investors (SASI) facilitates the creation and growth of seed- and early-stage core technology companies in the New York metro For the region, see . Metro New York is a free daily newspaper in New York City started in 2004. Its main competition is AM New York, with which it practices many of the same distribution and marketing strategies. and tri-state area. Located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and backed by Canaan Partners, Rho Capital Partners and Sevin Rosen Funds, SASI targets companies that provide solutions based on technology emerging out of tech transfer centers, universities, and/or corporate labs in which a subject matter expert has developed unique IP which is particularly relevant to industry pain points. The Fund's activities include venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so , building and accelerating new businesses, and growing entrepreneurs and their concepts into solvent, scalable companies. For more information go to www.sasinvestors.com |
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