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Telica Enjoys $60M Round

Highland Capital Partners and Oak Investment Partners co-led the third round; total funding now over $120 million

January 14, 2002

1 Min Read

MARLBOROUGH, Mass. -- Telica, Inc., a leading provider of softswitch-based voice and data infrastructure products for today's evolving telecommunications network, announced the close of its third round of funding. This latest round of financing closed at $60 million allowing Telica to further enhance its flagship Plexus(TM) 9000 switch with new functionality as well as grow the company's production facilities and sales channels domestically and internationally. "In a market where revenues for voice switching products exceed $40 billion annually, service providers will continue to move away from traditional circuit switching to packet-based switching products, like Telica's Plexus 9000," said John St. Amand, Telica's co-founder, president and CEO. "As a provider of Class 4 and Class 5 switches for TDM as well as VoIP and VoATM networks, Telica is a leading player in the largest telecom infrastructure market sector. With this substantial round of funding and our recent customer wins, we have established significant momentum and have shown the industry that Telica is a long term player in this large and growing market."Highland Capital Partners and Oak Investment Partners co-led the round of financing, with new investors including venture firms, service providers and strategic corporate investors. Telica's investors include, among other firms, Oak, Highland, Prism Venture Partners, and Nassau Capital. In addition to this equity funding, Telica recently secured a $20 million working capital line of credit.Telica Inc.

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