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Masergy secures $45 million in funding
March 16, 2005
DALLAS -- Masergy Communications, Inc., today announced its third round of funding for $45 million, including $15 million in capital from Comerica Bank, new funding from West Asset Management, and additional investments from Centennial Ventures and Meritage Private Equity Funds. This funding exceeds MASERGY’s financial requirements to reach cash flow break even, which is expected later this year. In total, MASERGY has raised nearly $140 million since its founding in 2000.
With the recently announced consolidations in the network services industry, MASERGY remains a leading global provider focused on delivering network products and services designed specifically for the multi-site enterprise market. This funding secures the company’s financial position and creates opportunities for the aggressive expansion of advanced network services organically or through strategic acquisitions.
“MASERGY is redefining the network service experience for the enterprise market,” said Barry D. Nalls, president and CEO of MASERGY. “This funding allows MASERGY to expand its lead in delivering the most advanced network services to large businesses.”
The company also announced the appointment of Royce Holland to its board of directors. Holland is a well-known pioneer in the telecommunications industry who founded MFS Communications and Allegiance Telecom.
“Without a doubt, MASERGY has one of the most exciting opportunities in telecom today, providing cutting edge services to a blue chip list of customers,” said Holland. “The company is well positioned to become an important player in the global enterprise network services space.”
Masergy Communications Inc.
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