Service delivery and assurance system provider P-Cube Inc. has completed its series C funding round, gaining $35 million from new and existing investors and bringing its total capital commitment to more than $65 million.
Privately held P-Cube's Service Engines and IP service assurance and control applications are designed to enable service providers to create new revenue streams while capitalizing on their existing infrastructure.
New investors in the round were premium investors Granite Global Ventures (which led the round), Venrock Associates and Accel Europe, along with existing investors Accel Partners, ComVentures, Evergreen, Sandoz, and Venture TDF. The company said it has met recent revenue targets and is well positioned to continue its successful track record, with deployed field trials of IP service control platforms in the cable, wireless, DSL and ISP market segments.
“Our company's ability to attract funding at this time from premium new investors endorses our first-mover advantage in providing service control and assurance, and our technical leadership in this large emerging market,” Yuval Shahar, president and CEO of P-Cube, said in a statement.
According to Scott Bonham, managing director of Granite Global Ventures, “With their broadband networks in place, carriers must find ways to get more leverage from these investments by implementing IP service assurance and control at the application and customer levels. P-Cube's technology and management team, as well as their market momentum, make it clear that they'll be a leader in this important new market.”
