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Ellacoya Raises $13.5 Million in New Round

Ellacoya Networks Inc. got the week off to a good start Mon., raising an additional $13.5 million in a fresh funding round. A specialist in bandwidth management software, Ellacoya attracted venture capital from such new investors as BCE Capital, the venture arm of of Bell Canada Enterprises, and Canaan Partners. Existing Ellacoya investors Atlas Venture, Flagship Ventures and Lightspeed Venture Partners also invested in the OSS vendor's latest funding round. Ellacoya said it will use the proceeds to speed up product development schedules and the expansion of its sales and marketing efforts worldwide. The firm said its IP Service Control System is now deployed by more than 75 service providers worldwide, including such big broadband players as Shaw Communications in Canada and @NetHome in Japan.
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