Actelis Networks, a maker of carrier Ethernet over copper gear, announced it has secured an additional $22 Million in private capital in a round led by Adams Street Partners along with all of its existing investors. Thomas C. Dolson, the telecommunications investment partner for Adams Street Partners, will join the Actelis’ board of directors.
Actelis’ patented EFMplus technology employs advanced digital signal processing techniques and link level dynamic spectral management (DSM) to create Ethernet connections over bonded copper. Actelis’ Carrier Ethernet switching capabilities are certified compliant with Metro Ethernet Forum MEF 9 and MEF 14 specifications.
“Actelis Networks’ solution uniquely combines the industry’s most innovative transmission technology for bonded copper loops with full featured Carrier Ethernet switching capabilities,” said Dolson. “Service provider customers continue to praise the company along with experts within the industry. Actelis only strengthens its position as the global leader of the carrier Ethernet over copper market with this infusion of capital to support continued corporate development and expansion.”
Craig Easley, Associate Vice President of Marketingfor Actelis, said the money will be used to “boost” the company’s operations and customer support infrastructure to accommodate some of the larger projects announced recently.
As the industry leader, Actelis’ solutions are deployed in more than 30 countries, on six continents around the world. Last year Actelis announced wins with Bayantel, Broadview Networks, Easynet, Colt, ONI and Frontier.
“We are very excited about this because it shows the commitment from the board,” said Mehmet Balos, president of Americas and chief marketing officer for Actelis, “All the original investors are still contributing and we have a new lead investor, Adams Street Partners. This is the type of VC that only invests in growing revenue companies. And we didn’t have to use any outside financial firms; basically the already committed board members evangelized this and secured the funding.”
Existing investors include ATA Ventures, Global Catalyst Partners, Dupont Capital, The Carlyle Group, Innovacom Venture Capital, Vertex, Walden International New Enterprise Associates and Independent Venture Fund.
Actelis Networks www.actelis.com
