Networking software provider LVL7 Systems announces $21M capital infusion

February 10, 2005

1 Min Read

RESEARCH TRIANGLE PARK, N.C. -- LVL7 Systems, Inc., the leading provider of production-ready networking software to communication system manufacturers around the world, has completed a $21M capital expansion. Leading the oversubscribed Series C financing was Silicon Valley-based venture capital firm USVP. The funding round also included participation from Lighthouse Capital Partners and LVL7's previous investors: The Carlyle Group, Gabriel Venture Partners, H.I.G. Ventures, and Research Triangle Ventures.

The latest funding will allow LVL7 to continue ambitious growth plans centered on expanding the feature sets and capabilities of its FASTPATH(R) software portfolio, and adding the internal resources and infrastructure enhancements necessary to service a growing customer base of top tier original equipment manufacturers.

"We're pleased the venture capital community recognizes the strength of LVL7's current market position and the customer value inherent in our production-ready networking software," said Al Bender, LVL7 CEO. "Adding a top-tier VC firm with a track record of success such as USVP to our investor list is an indicator of LVL7's strong business fundamentals and a testament to our widespread product adoption across the enterprise and carrier infrastructure markets."

LVL7 Systems Inc.

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

You May Also Like