Xelerated Raises $23M

Xelerated announced that it has closed a $23 million financing round led by the Sixth Swedish National Pension Fund

May 8, 2007

1 Min Read

SANTA CLARA, Calif. -- Xelerated, the price/performanceleader in network processing, today announced that it has closed a $23Million financing round led by the Sixth Swedish National Pension Fund (theSixth AP Fund). Xelerated's existing investors Atlas Venture, Alta Partners,Accel Partners and Amadeus Capital Partners also participated in thefinancing round. The company has a global customer base and the new fundingwill mainly be used to expand sales and support as well as for developmentof new products.

"Adding the Sixth AP Fund to our already strong investor base gives us theperseverance required to build a global world-class semiconductor company,"says Johan Bvrje, CEO of Xelerated. "We now have the means to realize ourvision of becoming the number one supplier of feature-rich Ethernetsolutions for Metro, Access and High-end Enterprise systems. The new fundsallow us to increase our presence on key markets and to accelerate ourrevenue growth based on existing and new products," Johan Bvrje concludes.

"Xelerated's customers, globally leading system vendors in China, Japan,Europe, Israel and the USA such as Fujitsu, Huawei and ZTE, as well as theproduct offering's clear customer benefits, convinced us of the company'stremendous potential," says Mats Augurell, Sixth AP Fund. "Our ambition isto give Xelerated the necessary means to establish itself as the number oneglobal network-processor supplier for high-performance Ethernet solutions."

Eva Lindqvist, business partner of the Sixth AP Fund, former president ofTeliaSonera International Carrier and incoming chairman of the board atXelerated adds: "Xelerated is ideally suited to capitalize on current markettrends. The build-out of broadband solutions for Triple Play services hasdramatically added to the demand for low-cost, feature-flexible merchantcomponents."

Xelerated Inc.

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