Taqua Inc., a Class 5 switch maker primarily targeting rural local exchange carriers, has raised about $20 million and appointed two investors to its board of directors.
The funding round, led by RRE Ventures, will fully fund Taqua’s business plan. A spokesman could not say immediately Tuesday when the privately held company anticipates reaching profitability.
Taqua will use the funds to support sales and marketing of its flagship product, the OCX next-generation Class 5 Switch, and additional product and market development initiatives.
Other contributors in the latest funding round include Investcorp and Point Judith Capital Partners in addition to Taqua’s current investors: Bessemer Venture Partners, Columbia Capital and Court Square Ventures.
Rich McGinn, a general partner at RRE Ventures and a former chairman and CEO of Lucent Technologies Inc., and Alex Guira, a partner at Investcorp, have joined Taqua’s board of directors.
Taqua, of Richardson, Texas, says it has raised more than $140 million since it was established in February 1998.
