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Blueprint Ventures Invests in BayPackets; $19.5 Million Series B Includes Lucent Venture Partners, TeleSoft Partners and Diamondhead Ventures.

Business Editors/High-Tech Writers

SAN FRANCISCO--(BUSINESS WIRE)--July 23, 2001

Blueprint Ventures, one of Silicon Valley's leading next-generation venture capital firms, announced today that it had joined in a $19.5 million Series B Round for BayPackets, a developer and marketer of a network independent and carrier-grade system that accelerates network-based voice service implementation and OSS/BSS integration.

Blueprint Ventures was joined in this round of financing by lead investor Lucent Venture Partners, along with Diamondhead Ventures, INC3 Ventures Series I and Mentmore Ventures. Existing investors TeleSoft Partners and Antillion Capital II as well as other private investors also contributed to this round of funding.

Founded in February 2000, BayPackets is a privately held company based in Fremont, Calif., which has raised $24 million in funding to date. This round of financing will enable BayPackets to further expand its engineering, sales and marketing operations as the company prepares to launch its solutions in Q3 2001.

"BayPackets is perfectly positioned to offer Carriers a clear path to maximized profit and minimized operational costs," said Christopher Kersey, Partner of Blueprint Ventures. "The seasoned BayPacket team, fully-funded business plan, and exciting offering are a welcome addition to the growing ecosystem of Blueprint Ventures communications infrastructure companies."

"We believe we have the right solution for an industry poised for long-term growth and securing this second round of funding truly validates BayPackets' vision," said Ken Epps, BayPackets' President and CEO. "The participation from some of the telecommunications industry's leading venture firms, including Lucent Venture Partners, TeleSoft Partners and Diamondhead Ventures, bring focused leadership, support and guidance that will help BayPackets to achieve a leadership position in the nascent enhanced voice services market."

About Blueprint Ventures

Blueprint Ventures is a San Francisco Bay Area-based early-stage venture capital firm focused exclusively on emerging communications companies delivering next-generation Internet infrastructure components, systems, services and communications software across all transmission pipes, including optical, cellular, wireless and next-generation wireline infrastructure. The Partners of Blueprint Ventures have more than 100 years of combined operating and investing experience. Current portfolio companies include Atreus Systems, Avail Networks, BayPackets, CopperCom, infolio, MobileStar, Oresis, ShareGate, Teja Technologies and Tunable Photonics. Prior to founding Blueprint Ventures, the Partners invested in more than 60 technology start-ups including Compaq, Copper Mountain, Covad, Excite@Home, GlobeSpan, Media Metrix, N2K, Tut Systems and XROS. Additional information is available at www.blueprintventures.com.

About BayPackets

Headquartered in Fremont, Calif., BayPackets Inc. develops and markets a network-independent and carrier-grade system that simplifies the complexity of service introduction and implementation. BayPackets' solution enables telecom service providers to leverage existing infrastructure and OSS/BSS systems to rapidly deploy, manage, and bill for network-based revenue-generating services across heterogeneous networks. BayPackets' evolutionary system enables carriers to evolve their service offerings, enhance revenues/margins, and enrich their customers' experience. Founded in February 2000, BayPackets is a privately held company and has received funding from some of the telecommunications industry's most high-profile venture capital firms including Lucent Venture Parnters, TeleSoft Partners, Diamondhead Ventures, Blueprint Ventures and Antillion Capital II. For more information visit BayPackets at www.baypackets.com or call 510/743-2500.
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Publication:Business Wire
Date:Jul 23, 2001
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