VINA Technologies Raises $12 Million in Third Round of Venture Financing.
FREMONT, Calif.--(BUSINESS WIRE)--July 13, 1998--
Berkeley International and TeleSoft Partners Lead Group
Investing in VINA, Developer of Integrated Voice and Data Access
Products for Small to Mid-Sized Businesses
VINA Technologies, the voice and data integration company, today announced it has secured $12 million in its third round of venture financing, bringing the total the company has raised to $20 million. VINA's Multiservice T1 Integrator(TM) enables competitive local exchange carriers (CLECs) to cost-effectively integrate voice, data, and Internet traffic Internet traffic is the flow of data around the Internet. It includes web traffic, which is the amount of that data that is related to the World Wide Web, along with the traffic from other major uses of the Internet, such as electronic mail and peer-to-peer networks. for small to mid-sized businesses.
The group investing in VINA is led by Berkeley International Capital Corporation (BICC BICC Bearer Independent Call Control
BICC Business Intelligence Competency Center (SAS Consulting)
BICC Beijing International Convention Center
BICC Biomedical Information Communication Center ) and TeleSoft Partners, both of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Calif. They join VINA Technologies' existing investors who include Sequoia Capital Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The firm's partners include Don Valentine, Pierre Lamond, Michael Moritz, Doug Leone, Mike Goguen, Mark Stevens, Jim Goetz, Sameer Gandhi, Roelof Botha, and Mark Kvamme. and Sierra Ventures, both of 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.
Of the total funding amount, BICC provided $7 million, with TeleSoft providing $2.5 million and other partners, including Sumitomo Corporation Sumitomo Corporation (住友商事, Sumitomo Shōji) TYO: 8053 is a highly built worldwide trading company (Sogo shosha), and is a diversified corporation based in Tokyo, Japan. It is a member company of the Sumitomo Group. , jointly providing the remainder. VINA plans to use the capital to fund the expansion of several key functions which will be crucial to the company's long-term success.
"This round of funding is significant for VINA in that the company is experiencing consistent growth thanks to increasing implementation of the Multiservice T1 Integrator by service providers, especially CLECs," said Josh Soske, president, VINA Technologies. "The funding will enable us to grow our sales and distribution channels while continuing new product development."
Service Provider/End User Benefits
The costs associated with building, expanding, and managing a traditional network infrastructure can be high. In an effort to keep their customers satisfied and to minimize churn, service providers 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. ways to offer bundled voice and data services that are easy to turn-up and manage.
VINA's Multiservice T1 Integrator enables service providers to offer customers bundled voice and data services using their existing network infrastructure. In addition, the combination of the integrated system management along with the minimal outside plant provisioning required to turn-up the system enables service providers to cost-effectively deliver and manage these new bundled services.
The result for end users is the simplicity of one-stop shopping for new data and voice services and a single monthly bill.
"The small to mid-sized business market is huge. BICC's investment reflects our view that VINA's delivery of multiservice access technology at the edge of the network plays a key role in offering solutions that help service providers to cost-effectively deliver bundled services to this lucrative segment. VINA is well-positioned in an extremely promising market," said Arthur I Arthur I, 1187–1203?, duke of Brittany (1196–1203?), son of Geoffrey, fourth son of Henry II of England and Constance, heiress of Brittany. Arthur, a posthumous child, was proclaimed duke in 1196, and an invasion by his uncle King Richard I of England was . Trueger, executive chairman, BICC.
"We see VINA as a terrific investment opportunity because in the Multiservice T1 Integrator, the company has the perfect product at the right time, with Internet and packet data networks converging with voice and circuit-switched networks," said Arjun Gupta, founder and managing partner, TeleSoft Partners. He continued, "We were impressed with the engineering and architecture of the product, which clearly is best-of-breed in an extremely large and growing market. Further, many CLECs are emerging as a result of deregulation Deregulation
The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry.
Traditional areas that have been deregulated are the telephone and airline industries. and they will require Customer Termination Equipment to provide their customers with the services they require."
Mr. Gupta added that VINA's management team, which includes industry veterans who have worked for prominent telecom companies, was a big plus. "We believe the management team will provide strong leadership and will deliver results," Mr. Gupta said. "We plan to leverage our extensive relationships in the telecom industry to bolster the many existing customer relationships that VINA has already established, as well as to make additional introductions to new potential customers."
VINA's Multiservice T1 Integrator
VINA markets its Multiservice TI Integrator to CLECs, including Intermedia Intermedia - A hypertext system developed by a research group at IRIS (Brown University). Communications and Waller Creek Communications, as well as Interexchange Carriers, such as WorldCom and MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device.
(2) (Microwave Communications Inc. . VINA also has distributors in the United States and Canada, Walker and Associates, Inc., of Welcome, N.C., and Cabletel Communications Corp. of Markham, Ontario, respectively.
Weighing under 10 pounds and only the size of a pizza box, VINA's Multiservice T1 Integrator combines the voice functionality of routing local and long distance calls with the data networking functionality of an IP/IPX router, a CSU/DSU See DSU/CSU.
CSU/DSU - channel service unit/digital service unit , an Internet firewall and a remote access server for secure telecommuting telecommuting, an arrangement by which people work at home using a computer and telephone, transmitting work material to a business office by means of a modem and telephone lines; it is also known as telework. via IPSec-based Virtual Private Networking (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ).
The Multiservice T1 Integrator provides small and mid-sized businesses with secure, high-speed Internet access via a frame relay or T1 connection. The firewall and VPN capability allow the creation of a secure connection from an ISP (1) See in-system programmable.
(2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. to the customer's location. Also, the Multiservice T1 Integrator has a comprehensive set of diagnostic and fault management features as well as SNMP- and HTTP-based remote management capabilities.
About VINA Technologies
Founded in 1996, VINA Technologies bridges the gap between the worlds of telecommunications and data communications by delivering multiservice integration at the network edge. Marketed to service providers and distributors, VINA's customer premises solutions enable service providers to cost-effectively deliver integrated voice, data and Internet services to small to mid-sized businesses and branch offices (10 to 100 employees). Available since 1997, the company's premier product, the Multiservice T1 Integrator, is a compact, economical device that represents an industry first, integrating voice, data and Internet traffic onto a single T1. VINA Technologies is located at 42709 Lawrence Place, Fremont, CA 94538; 1-888-774-VINA; www.vina-tech.com.
About Berkeley International Capital Corp.
BICC arranges private placement investments into rapidly growing technology and medical companies. BICC is a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of London Pacific Group Limited, a diversified international financial services firm with total assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and administration of more than $7 billion.
Berkeley's past investments include America Online, Inc., Broderbund Software, Inc., Oracle Corp., 3Com Corp., Sequent Computer Systems, Inc., Cypress Semiconductor Corp. and Cirrus Logic, Inc.
About TeleSoft Partners
TeleSoft Partners is a new venture fund focusing on next-generation telecom services, software and systems companies nationwide.
T1 Integrator is a trademark of VINA Technologies. All other trademarks or registered trademarks are the property of their respective owners.
CONTACT: VINA Technologies, Fremont
Nancy J. Smith, 510/413-1315, firstname.lastname@example.org
The Hoffman Agency
John Chester/Pamela Rupert, 408/286-2611,
email@example.com or firstname.lastname@example.org