NexVerse Buys ipVerse

NexVerse Networks secures $15 million in private financing; acquires ipVerse product and related assets

December 12, 2001

1 Min Read

SAN JOSE, Calif.-- NexVerse Networks, Inc., a newly formed company, announced that it has raised $15 million in private financing and acquired the ipVerse ControlSwitch product, the industry leading platform for open softswitch solutions, and related assets of ipVerse, Inc. Levensohn Capital Management LLC, the lead investor, was joined by Norwest Venture Partners, Kleiner Perkins Caufield & Byers and Battery Ventures in financing this round. These funds will be used to continue development of the ipVerse ControlSwitch platform and its applications and to expand the marketing and sales functions. The core ipVerse ControlSwitch team, spanning all major functional areas and the key executive leadership team from ipVerse have joined NexVerse Networks. The ipVerse ControlSwitch platform has continued to change the economics of next-generation networking through the applications it enables. "With several customers in live deployment with multiple revenue-generating solutions, we fully expect the ipVerse ControlSwitch platform to continue to lead the way in transitioning service providers to a packet-based voice and data network," states Pascal Levensohn, President, Levensohn Capital Management LLC. "In addition to live customer deployments, the ipVerse ControlSwitch is engaged in advanced stages of trials with multiple market-leading carriers. We are confident that it will continue to gain traction among customers seeking to reap the benefits of open softswitch technology," states Russ Siegelman, General Partner, Kleiner Perkins Caufield & Byers. NexVerse Networks Inc.

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

You May Also Like