SiberCore Scores $12.9M

SiberCore Technologies closes CDN$20M (US$12.9) with help from new investors VenGrowth Capital Partners and Ventures West Management

December 18, 2002

1 Min Read

OTTAWA -- SiberCore Technologies, a leading provider of semiconductor packet management products and solutions to the Internet infrastructure market, today announced the closure of CDN $20 million in venture financing. This round of financing attracted VenGrowth Capital Partners Inc. and Ventures West Management as new investors, in addition to receiving continued support from Celtic House Venture Partners, McLean Watson Capital and the Business Development Bank of Canada.The new capital exceeds SiberCore’s requirements to reach a cash flow positive position. Immediate plans include building SiberCore’s global presence and financing new product developments.“I am very pleased with the level of financing raised. I am especially proud that we were able to attract the attention of such highly regarded new investors, in addition to receiving continued support from our current shareholders,” said Peter Becke, President and Chief Executive Officer of SiberCore Technologies. “Our proven track record, complemented by our strong balance sheet, will allow us to continue to grow the value for our customers through services and solutions support.”SiberCore Technologies

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

You May Also Like