Telseon Closes $80M Round

TELSEON CLOSES $80 MILLION FUNDING ROUND WITH INVESTMENT BANKS, STRATEGIC PARTNERS JOINING LEADING VENTURE FIRMS.

May 2, 2000

1 Min Read

PALO ALTO, CA -- Telseon, Inc., a provider of Internet infrastructure services that will run over optical networks in major metropolitan markets, announced today that it has secured $80 million in second-round funding from a group of investors including leading venture firms, investment bankers, and strategic business partners.

Joining first-round funding companies Sevin Rosen Funds and Crosspoint Ventures are Morgan Stanley Dean Witter, The Goldman Sachs Group, Inc., Bear Stearns, Donaldson Lufkin, & Jenrette, and Hunt Ventures. Internet infrastructure companies such as Level 3 Communications, Nextlink, and Enron also made strategic cash and non-cash investments. The round was led by Pivotal Asset Management.

The investment will accelerate the deployment of Telseon's recently announced LogicalWire (SM) managed gigabit services. LogicalWire, now available in the greater San Francisco Bay Area, is scheduled to be offered in 20 additional markets across the country by the end of the year. Telseon supplies service providers and their enterprise customers with extremely secure, high-speed, and instantly scalable connectivity, delivering twice the bandwidth at one-half the cost of existing networks. The LogicalWire service is used to link multiple hosting sites, enterprises, application service providers, and Internet service providers within a metropolitan area.

http://www.telseon.com/frames.html

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