$16 Million Funding for IPrad

Raises $16M in private equity placement led by HarbourVest Partners and Morgan Stanley Dean Witter Private Equity

September 1, 2000

1 Min Read

TEL AVIV -- IPrad, Inc., the American-headquartered start-up with research and development facilities based in Tel Aviv, Israel, announced that it has completed an initial round of private placement financing, raising $16 million in funds for product development and marketing purposes. HarbourVest Partners and Morgan Stanley Dean Witter Private Equity co-led the round of financing, and will both be represented on the board of directors. Other investors included TLcom Capital Partners, Jafco (Japan's technology fund), Garage.com, and the RAD-Bynet Group, along with senior executives of RAD Data Communications and IPrad employees. IPrad specializes in product solutions for the emerging market of IP over SONET/SDH.

"The IPrad investment reflects our drive to be a leader in the financing of new and developing companies at the cutting edge of the next generation networking space," said Gustavo Schwed, an Executive Director of Morgan Stanley Dean Witter Private Equity. "We believe in IPrad's strong market potential because they bring together a unique technology and an experienced management team with a strong track record. In addition we are very impressed with the quality of emerging growth companies in Israel and have committed significant resources to this market."

http://www.rad.com

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