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Atrica Raises $28.2 Million in Equity and Debt Financing
April 5, 2006
Santa Clara, CA - April 5, 2006 - Atrica™ Inc., the Carrier Ethernet Company™, today announced a $28.2 Million round of new financing. Led by Vesbridge Partners and GunnAllen Venture Partners, the round includes continued funding from existing investors such as Innovacom (the venture capital subsidiary of France Telecom), JK&B, and Investor Growth, funding from new investor AT&T Corporation, and debt financing from European Venture Partners (EVP). Atrica will use the funds to expand engineering and operations functions to support rapidly increasing deployments of its Carrier Ethernet Systems at service providers, network operators and enterprises worldwide.
Driven by the significant increase in service provider investment in triple play, backhaul and business Ethernet networks, Carrier Ethernet is one of the fastest growing market segments in the telecommunications industry. Infonetics Research forecasts the Carrier Ethernet market to reach $2.6B in 2008.
"To meet the strong demand for triple play and enterprise Ethernet services, network operators and service providers worldwide have planned significant capital expenditures," said Jon Goldberg, Managing Director of GunnAllen Venture Partners. "Carrier Ethernet is gaining momentum in all the major global regions and the timing was right for GunnAllen Venture Partners to invest in one of the market's leaders. Atrica has extensive traction with Tier 1 carriers, MSOs and city carriers worldwide, and a proven, robust product suite."
"This round of financing clearly illustrates the industry's recognition of Atrica as a key driver of the vital Carrier Ethernet market space," said Vivek Ragavan, president and CEO of Atrica. "We will leverage this funding to aggressively expand our thriving, worldwide base of service provider, network operator and enterprise customers."
This financing builds upon the investments Atrica has already received from industry notables such as Intel Capital and from global service providers such as BellSouth Corporation, Bezeq, SBC Communications, Inc. (via Aurum-SBC Ventures), Saturn Venture Partners, and Telia.
About Atrica's Carrier Ethernet Systems
Atrica's Carrier Ethernet Systems allow network operators to profitably deliver high-speed residential triple play and broadband business Ethernet services over a single universal transport network with guaranteed, end-to-end service level agreements (SLAs), sub-50ms network-wide resiliency, integrated TDM traffic support, and flexible, comprehensive point-and-click management and provisioning capabilities.
A complete solution for Metro carriers, Atrica's suite of Carrier Ethernet Systems is comprised of the A-2000 family of Carrier Ethernet Edge Switches, the A-4000 family of Carrier Ethernet Aggregation Switches, the A-8000 family of Carrier Ethernet Core Switches, the A-100 and A-200 Ethernet demarcation devices and the Atrica Service Platform for Ethernet Networks (ASPEN™), an integrated service provisioning and management system.
Atrica's industry-leading Carrier Ethernet Systems have received official certification from the Metro Ethernet Forum (MEF) for complying with the consortium's Global Carrier Ethernet Service Definitions. Specifically, Atrica's Carrier Ethernet Systems have been shown to deliver Ethernet Private Line (EPL), Ethernet Virtual Private Line (EVPL) and E-LAN (Ethernet multipoint-to-multipoint) services compliant with the MEF 9 technical specification for such services.
About Atrica
A technology visionary and industry pioneer, Atrica provides a full range of Carrier Ethernet transport solutions to service providers delivering Metro Ethernet services. Atrica's Carrier Ethernet product suite combines the benefits of Ethernet technology - including its low-cost, proven scalability, ease of management, and ubiquity in the enterprise market - with innovations in traffic engineering, service management and scalability to meet the stringent demands of next-generation transport networks. With Atrica's Carrier Ethernet solutions, service providers can deliver the ultimate broadband triple play services experience to their business and residential customers over a single universal transport network, with guaranteed SLAs, sub-50ms network-wide resiliency, TDM traffic support, and point-and-click, centralized OAM&P. Privately held, Atrica has received funding from world-class venture capital firms, industry leaders, and eight global service providers. Based in Santa Clara, Calif., Atrica has R&D facilities in Israel and the Untied States and business development and sales offices throughout the United States, Europe, and Asia Pacific. For more information, visit Atrica on the Web at www.atrica.com
Related Member:
Bill Cadogan
Related Company:
Atrica, Inc.
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