General Bandwidth Scores $66M

Texas Instruments joins as strategic investor in fourth funding round, led by Invesco

July 16, 2001

1 Min Read

AUSTIN, Texas, and CHICAGO --General Bandwidth Inc., a telecommunications equipment manufacturer enabling the new voice infrastructure, today announced the completion of $66 million in fourth-round venture funding, further demonstrating the fact that General Bandwidth's product development strategy and target market create a compelling competitive advantage and value proposition. The funding was led by Invesco, one of the world's largest independent investment management firms. Texas Instruments the world leader in digital signal processing (DSP) and analog, and a leading provider of DSP-based silicon and software solutions for the broadband market also joined the funding as General Bandwidth's newest strategic investor. Other new investors include Wheatley Partners and Granite Global Ventures. This round brings the total funds raised by General Bandwidth to almost $150 million since its inception in 1999. The company raised $12 million in first round funding in September 1999, followed by $24 million in February 2000, and an additional $47 million last August. In addition to new investors, the latest round included investors from the three previous rounds, including Sevin Rosen Funds, Sequoia Capital, Oak Investment Partners, Venrock Associates, Trellis Partners, Thomas Weisel Capital Partners, CIT Venture Capital and HLM Management. "TI is a supplier to General Bandwidth, and today's investment demonstrates our confidence in the company's position and in the future of the VoDSL market," said Joe Crupi, vice president, Broadband Communications Group, Texas Instruments. "TI and General Bandwidth are well aligned in efforts to enable new broadband capabilities and facilitate overall growth of the broadband market." General Bandwidth Inc.

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