Acme Packet Raises $16M

Acme Packet raises $16 Million to develop plaform for interactive voice, video and multimedia applications across IP networks

October 8, 2001

2 Min Read

WOBURN, Mass. -- Acme Packet, an emerging company building a carrier-class solution for network service providers, today announced it has raised $16 million of second round funding, led by Menlo Ventures and including Canaan Partners. The capital will be used for the continued development, marketing and sales of Acme Packet's products and services. The company also announced its executive team, an impressive group of professionals with proven expertise in IP networking, signaling protocols, distributed systems and high-availability architectures. Acme Packet is developing solutions that enable network service providers to optimally transport premium, interactive voice, video and multimedia applications across and between IP networks. Such applications include presence and instant calling/conferencing, IP PBX and Centrex, video conferencing, multimedia collaboration, interactive, multimedia Customer/Supplier Relationship Management (C/SRM), distance learning, gaming and many more. Both businesses and consumers, however, are demanding that these applications span multiple IP networks - public and private, wired and wireless. Facilitating the transport of these high value applications represents significant revenue and profit opportunity for service providers. "Users are demanding much more than traditional data services to communicate from business to business, business to consumer, and person to person. They are demanding IP-based interactive applications that are end-to end, to anyone anywhere -- just like a telephone call over the PSTN," said Andy Ory, President, CEO and Founder of Acme Packet. "This funding validates our market opportunity and ensures that we will produce an industry-first solution for delivering these applications with the required quality, cost, security, accounting and control." "It is clear that telecom service providers are moving to all IP networks. With that, they need technology to provide end-to-end, high quality transport services across and between IP networks that is not possible today," said Sonja Hoel, of Menlo Ventures. "Acme Packet provides that technology. With these new IP networks, service providers will be able to deliver many high revenue and high margin interactive voice, video and multimedia applications." Acme Packet

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