P-Cube Pockets $35 Million

Granite Global Ventures, Venrock Associates, and Accel Europe join existing investors to bring total raised so far to $65 million

May 20, 2002

1 Min Read

SUNNYVALE, Calif. -- P-Cube, Inc., the originator of programmable IP service control solutions that maximize revenues in broadband carrier networks, today announced that it has completed its series C funding round, gaining $35 million from new and existing investors. This investment brings the total capital commitment in P-Cube's IP service control technology to more than $65 million and demonstrates a strong continuing endorsement of the company's groundbreaking technology and its wide traction in the marketplace. Joining this round were new Tier 1 investors Granite Global Ventures (which led the round), Venrock Associates, and Accel Europe, which joined existing investors Accel Partners, ComVentures, Evergreen, Sandoz, and TDF. P-Cube has met recent revenue targets and is well positioned to continue its successful track record, with deployed field trials of IP Service Engineering systems in the cable, wireless, DSL, and ISP market segments. The company will use the new funds for continued product development and marketing activities to take P-Cube to positive cash flow. "With their broadband networks in place, carriers must find ways to get more leverage from these investments by implementing IP service awareness and control at the application and customer levels," said Scott Bonham, managing director of Granite Global Ventures. "P-Cube is the only company that brings IP service awareness and control to any access network via existing transport infrastructure, giving carriers the tools they need to cut costs and increase revenue." P-Cube Inc.

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