Crescent Raises $37M More

Led by Jafco Ventures, second round of funding brings Crescent's total to more than $50 million

October 3, 2000

1 Min Read

LOWELL, Mass. -- Crescent Networks, Inc. today announced that it has received $37 million in new funding. With its second-round investment, Crescent Networks' total funding to date exceeds $50 million. The Series B round of funding is led by JAFCO Ventures, along with existing investors Bessemer Venture Partners, St. Paul Venture Capital and Venrock Associates also participating, as well as funding from Comdisco. Andy Goldfarb of JAFCO Ventures will join Crescent Networks' board of directors. The new funding will support Crescent Networks' continued rapid growth in all areas of the company including product development, sales and marketing.

"We are very excited to contribute to the growth of Crescent Networks. The market that they address is a growing and critical one for businesses today and will soon exceed $35 billion by all estimates," said Andy Goldfarb, Managing Director, JAFCO Ventures. "The combination of its innovative and highly scalable virtual routing technology, depth of management experience and their focus on working with customers early on in their product development ensures Crescent Networks of high success."

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