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New capital injection of more than $343M revealed as Genband unveils its new direction

Investors Back Genband's Vision

Ray Le Maistre
2/12/2013
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Genband Inc. raised $343.5 million by issuing fresh equity to its VC backers in late 2012, according to a filing with the SEC dated Jan. 4 that was spotted by investment bank Rutberg & Co. The move preceded the company's move into the cloud-based Unified Communications platform market, which was announced Tuesday morning. (See Genband Constructs Cloud-Based UC Service.) Genband has said it will provide some comment on the fund-raising in the near future but suggests that the service launch was not reliant on the new cash injection. The SEC filing notes only that the funds are not intended for use in any merger and acquisition activity. But there's a neat historical link to tease out here: Genband was backed heavily by one of its major shareholders, One Equity Partners, for the 2010 acquisition of Nortel's Carrier VoIP and Application Solutions (CVAS) business, which would have provided the bedrock for Genband's unified communications systems sector. (See Genband Wins Nortel's Carrier VoIP Biz.) Rutberg revealed Genband's new round of funding in its monthly Wireless Industry Newsletter, which examines industry trends and lists wireless sector investments and M&A activity from the previous month. Not surprisingly, Genband lead the way in terms of new funding rounds, accounting for more than a third of the $867 million raised by 92 privately held companies. The second-biggest wireless-related funding round of January, according to Rutberg's research, was raised by smart home thermostat developer Nest Labs, which banked $80 million. — Ray Le Maistre, International Managing Editor, Light Reading

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Phil Harvey
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Phil Harvey,
User Rank: Light Beer
2/12/2013 | 7:58:35 PM
re: Investors Back Genband's Vision
Another question for Genband: How much of Genband does OneEquity Partners own?
Phil Harvey
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Phil Harvey,
User Rank: Light Beer
2/12/2013 | 6:34:40 PM
re: Investors Back Genband's Vision
I think this might be the big CNBC announcement. Spoiler alert.
Ray Le Maistre
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Ray Le Maistre,
User Rank: Light Sabre
2/12/2013 | 6:19:25 PM
re: Investors Back Genband's Vision
Genband has decided it doesn't want to comment on anything related to investments. [SAD FACE!]
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