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March 29, 2002
REDWOOD CITY, Calif. -- Ceon Corporation, the Intelligent Broadband Provisioning Company, announced today an agreement with Sutter Hill Ventures, Berkeley Ventures, Technology Crossover Ventures, Accel Partners, and major existing investors, to complete a private equity financing of Ceon at a level that fully-funds the Ceon business plan. The investment enables Ceon to aggressively move forward in the market for broadband provisioning services. Sutter Hill Ventures, Berkeley Ventures, Technology Crossover Ventures and Accel Partners are some of North America's premier and largest Venture Capital institutions. "We've reach an important milestone," said Jack Methven, Chairman and CEO of Ceon. "This investment enables us to boldly pursue the activities in our business plan, and reconfirms the Venture Capital community's confidence in Ceon, its products and team, and the broadband services market." With this financing and the completion of Ceon's Integration & Provisioning Products, the company is positioned for the long term as the leading player in the broadband provisioning market for advanced IP-services including HSDS, VoIP, IP-VPN, CBR Telephony, video services as well as other broadband based services and content for the cable, ILEC/PTT, wireless and other service provider markets. Ceon Corp.
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