Atoga Gets Another $50M
The lead investors on Atoga's equity financing are Silicon Valley Internet Capital (SVIC), which provides capital and operating support for Internet infrastructure companies and Institutional Venture Partners (IVP), a fund that focuses on expansion-stage venture capital. New Enterprise Associates (NEA) and Sequoia Capital, Atoga's two original investors, confirmed their continuing support with significant participation in this round of financing.
"There are many vendors competing for carriers' metro-spending budgets, so we had to study the market carefully before deciding where to concentrate our support," said Norm Fogelsong, Managing Director of IVP. "We found that Atoga is offering a fundamentally different value proposition, bringing its customers the substantial performance gains and price benefits they require. Our financial commitment reflects our belief in Atoga's strategy -- enabling service providers to simultaneously reduce operational costs and exploit the huge revenue opportunity of metered application services."