Brecis Communications Gets $23M

SAN JOSE, Calif. -- BRECIS Communications, a communications company focused on leading-edge, broadband multi-service network processor architectures, today announced it has raised $23 million in venture financing, bringing total investment to $53.5 million. Berkeley International Capital led the round, joined by earlier investors, InterWest Partners, Sequoia Capital, Norwest Venture Partners and Charter Growth Capital.

"According to Morgan Stanley Dean Witter, the number of Internet users is expected to jump from 126 million in 1998 to more than 500 million by 2003, driven by bandwidth intensive applications like streaming audio and video," said George Alexy, BRECIS president & CEO. "We expect this to create an unprecedented opportunity for BRECIS to help enable multi-service applications for the last mile to customer sites as the transition begins to an all-digital, multi-service customer premise."

http://www.brecis.com