Viola Scores $11M

Viola Networks secures $11.1 million in additional funds

September 28, 2004

2 Min Read

YOQNEAM, Israel and KING OF PRUSSIA, Pa. -- Viola Networks, a provider of real-time IP performance management software, today revealed that it has secured an additional $11.1 million to fund the company's expansion. Participating in this latest round are Evergreen Partners, M/C Venture Partners and Concord Ventures three leading venture firms with substantial track records of success in technology and communications investments as well as existing Viola investors such as Polar Communication.

Viola Networks will use the funds to expand the company's already impressive revenue growth, which is more than doubling annually. Today, Viola's NetAlly(R) product family software is currently used by hundreds of service providers, systems integrators and enterprises to ensure that their IP networks are ready to support real-time converged applications such as VoIP throughout the entire product lifecycle - from pre-deployment through daily operations.

Specifically, Viola will use the new funds to expand its market activities, sales staff, research and development activities and eventually to extend its reach into additional market opportunities within VoIP. The company plans to significantly expand its human resources and enhance its international presence by establishing its own operations in Europe and the Asia-Pacific.

A new lead investor in this funding round is Evergreen Partners, one of Israel's premier venture capital firms focusing on early stage technology investments. With more than $610 million of private equity funds under management and investments in more than 80 technology startups, Evergreen manages one of the largest portfolios in Israel and has executed 25 successful portfolio company exits through IPOs or trade sales - including companies such as Galileo, Radvision and Radware.

"The Telecommunications Industry Association predicts that the IP market will reach $18.7 billion in 2007, with a 9.7% compound annual growth rate from 2004 to 2007. IP applications revenues are projected to grow even faster, reaching $11.4 billion by 2007, a 66.5% compound annual growth rate," said Adi Gan general partner at Evergreen. "Viola Networks will succeed in this fast-growing market because its unique software solves the only challenge that might hold the VoIP market back: The need for fast, easy voice quality management and troubleshooting for both pre and post deployments."

Viola Networks Inc.

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