2Wire Gets $61 Million

Latest round of financing led by Technology Crossover Ventures and Oak Investment Partners

October 25, 2001

1 Min Read

SAN JOSE, Calif. -- 2Wire(TM), Inc. (www.2Wire.com), the leading provider of residential gateways, today announced the completion of its latest round of financing totaling $61 million, with co-lead investors Technology Crossover Ventures (TCV) and Oak Investment Partners. 2Wire has raised a total of $144 million in equity investments to-date since the company's founding in July 1998. Lead investors for this round were Technology Crossover Ventures, a multi-stage venture capital firm and new investor in 2Wire, and Oak Investment Partners. Other new investors include Pilgrim Baxter & Associates and Shell Internet Ventures. Returning investors include Accel Partners, DCM (Doll Capital Management), the INVESCO Private Capital Group, Meritech Capital, and Venrock Associates. "2Wire has succeeded in establishing key partnerships with some of the country's leading Internet service providers -- Verizon, SBC and Earthlink -- which means 2Wire products are now broadly available to residential DSL customers," said Will Griffith of TCV. "With award-winning products and a first-class management team, we are confident that 2Wire will continue its market leadership, with a significant opportunity to gain further traction as the broadband market grows." 2Wire Inc.

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