Cybera Closes $12.8M

Cybera announced the closing of a $12.8 million equity round of financing led by Adams Street Partners of Chicago

January 11, 2006

1 Min Read

NASHVILLE, Tenn. -- Cybera Inc. today announced the closing of a $12.8 million equity round of financing led by Adams Street Partners of Chicago. Also participating in the closing were Chrysalis Ventures of Louisville, Claritas Capital LLC of Nashville and several prior Cybera investors.

Cybera delivers next generation broadband wide area network solutions to multi-location businesses across the United States.

"Adams Street Partners chose to invest in Cybera because the company has a proven track record of success and has set new standards for secure, affordable broadband networking solutions," said George Spencer, a partner with Adams Street Partners. "We expect this funding to accelerate Cybera's growth through deeper penetration of their target markets with a broader product portfolio."

Cybera targets retail, restaurant, convenience store and financial services organizations that need an advanced network toimplement enterprise applications.

"Chrysalis sees strong growth opportunity because of the strength of Cybera's management team and the growing demand for private broadband networks," said Wright Steenrod, a principal with Chrysalis Ventures.

Cybera plans to use the new funding to expand sales and marketing efforts, add new network facilities and product features and restructure some existing debt and equity.

"We are excited to have new capital that will allow Cybera to bring more service features to a broader range of customers," said Cliff Duffey, Cybera's chairman, chief executive officer and president.

Cybera Inc.

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