Celox Closes $80 Million Round

Third round led by Putnam Investments and Firsthand Capital Management brings total funding to $155 million

July 16, 2001

1 Min Read

SOUTHBOROUGH, Mass. -- Celox Networks, the company delivering the most scalable edge aggregation and IP service switch for large service providers, today announced it has closed an $80 million third round led by Putnam Investments and Firsthand Capital Management, Inc. This brings the company's total funding received since its founding in January 1999 to $155 million. In addition to Putnam and Firsthand, other new investors in this round include Dain Rauscher Wessels, J.P. Morgan Capital, Pacesetter Capital, SG Cowen and Thomas Weisel Partners. Along with the new investors, many of the company's existing investors from its first two rounds invested again in the third round, including: ABS Ventures, Adams Street Partners, A.G. Edwards, Apex Investment Partners, Bank One, Bay Partners, Hexagon Investments, Pilot House Associates, Rosewood Capital and the Texas Pacific Group.

"Celox Networks is an exciting private investment for Putnam," said Rick Wynn, vice president, Putnam Investments. "They have a sustainable technology advantage, a clear path to profitability and a seasoned management team to execute on the company's business plan. We believe they have a very strong position in a large, growing market."

Celox Networks

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like