Big banks join investors, suggesting an IPO is in the offing

December 18, 2000

1 Min Read

Appian Communications, the first to deliver the optical service edge solutions required to open optical networks to new packet service revenues, today announced that it has received $60 million in third-round funding, bringing total financing to over $80 million since the company was formed in March 1999. Led by Tudor Investment Corporation and Technology Venture Partners, new investors also included Amerindo Investment Advisors Inc., Anschutz Investment Company and Essex Investment Management Co., LLC.

Also participating in the round were investment arms of investment banking firms Chase H & Q (NYSE: CMB), Deutsche Bank, Goldman Sachs (NYSE: GS), JP Morgan & Co. (NYSE: JPM), Robertson Stephens, Inc., and Thomas Weisel Partners. Initial round investors who also participated in this round include North Bridge Venture Partners, Matrix Partners and Venrock Associates.

This strategic round of funding will support the growth in Appian’s business operations, including the expansion of product delivery programs, domestic and international expansion, and sales, service and customer marketing of Appian’s award winning Optical Services Activation Platform™ (OSAP™) and AppianVista™ Services and Element Manager product line. The Appian solution leverages the cost, performance and simplicity of Ethernet to enable the migration to high growth packet services over today’s optical network infrastructure. By bringing packet service efficiency and intelligence to the existing, widely deployed SONET/SDH transport infrastructure, Appian is allowing service providers to readily deploy highly resilient, next- generation packet services with significant time to service and lower capital cost advantages.

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