Brix Secures $5M

CHELMSFORD, Mass. -- Brix Networks (www.brixnet.com), the trusted provider of Voice over Internet Protocol (VoIP) performance management and service assurance solutions, today announced it has raised $5 million in its fifth round of venture capital funding.

This latest series of financing was lead by new Brix investor Castile Ventures, and also included long-time company backers Charles River Ventures, ComVentures, Fidelity Ventures, Partech International, and STAR Ventures.

Additionally, Nina Saberi, a partner at Castile, has joined the Brix Board of Directors where she'll serve along with Tom Pincince, president and CEO of Brix Networks; Joe Chinnici, senior vice president, finance and CFO, CIENA Corporation; Rubin Gruber, founder and chairman emeritus, Sonus Networks; Rob Ketterson, managing partner, Fidelity Ventures; Alan Taffel, former vice president of marketing, UUNET Technologies (now part of MCI); and Mike Zak, partner, Charles River Ventures.

"With its compelling technology, established products, and ever expanding list of brand-name customers and partners, Brix Networks enjoys a strong position in the VoIP monitoring market and is a company on the move and building value," said Saberi.

With total funding of approximately $60 million since the company's inception in July 1999, this new round of capital will be used to accelerate the sales, marketing, and engineering development efforts at the growing VoIP management company.

"The proceeds from this latest round will help fuel our aggressive sales expansion plans, fund our increased marketing programs, and also allow us to make additional investments in our engineering and corporate infrastructure," said Pincince. "Our solutions have increasingly become vital components in the networks of leading companies around the world, and we want to be able to take full advantage of all the market opportunities before us."

Brix Networks Inc.