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Quallaby Gets $14.5 From VCs

Late-stage funding round includes North Bridge Venture Partners, Matrix Partners, HarbourVest Partners, and Adams Street Partners

June 13, 2001

1 Min Read

LOWELL, Mass. -- Quallaby Corporation, provider of PROVISO®carrier-class network monitoring and service assurance software, todayannounced completion of $14.5 million in late stage financing. Currentinvestors including North Bridge Venture Partners, Matrix Partners,HarbourVest Partners, Commonwealth Capital Ventures, Adams Street Partners(formerly Brinson Partners), Partech International, and Galileo were joinedby RSA Ventures, a new investor for Quallaby. Since its founding in 1996,Quallaby’s total funding is USD $46 million.Quallaby will use the funding to continue to aggressively develop, market,sell, and support PROVISO software, as it becomes the ‘Assurance’ standardof the FAB model (Fulfillment, Assurance, Billing) of service providers’operations support systems (OSS). PROVISO® collects, imports, and integratesOSS data in an Oracle-based data mart for tiered service level agreement(SLA) business modeling, so that network performance is associated to theservices and service levels deployed per subscriber. In addition, Quallabyhas added seasoned sales and service staff to both North American and EMEAoperations.Fergal Mullen from RSA Ventures said, “We had set our sights on OSS softwareand infrastructure and Quallaby emerged as a leading player in theperformance management segment of the market with clear potential for stronggrowth in the coming years. They have a track record in telecom serviceassurance and significant acceptance with some of the largest serviceproviders in the US and in Europe. Quallaby is committed to driving boththe top-line and bottom-line growth of service providers enabling them togrow rapidly despite current market conditions. We are very pleased to beworking with them.”Quallaby Corp.

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