ZettaCom Lands $19M

SANTA CLARA, Calif. -- ZettaCom, the leading provider of switch fabric and traffic management semiconductor solutions, announced today it has secured $19.2 million in its third round of funding. The round, jointly led by Norwest Venture Partners (NVP) and Investcorp, includes both existing and new corporate and financial investors. This round brings the total amount of equity financing raised to $77.7 million since the company's inception in 1999. ZettaCom also announced that Richard Fuller, Partner at Investcorp, was appointed to the company's board of directors. He joins Promod Haque (Managing Partner, Norwest Venture Partners), Tony Sun (Managing General Partner, Venrock Associates), Jerry Fishman (President & CEO, Analog Devices), Scott Bonham (Managing Director, Granite Global Ventures), Wu-Fu Chen and Daryn Lau (President & CEO, ZettaCom Inc) on the board. "Network semiconductors are fundamentally changing the way network systems are being built, lowering system cost while enhancing network systems' ability to support new services," said Promod Haque of NVP. "With this emerging model of standardized architectures, the networking industry will finally be able to deliver on the long-standing promise of service convergence to service providers. ZettaCom's technology has established it as a front-runner in this growing market." "ZettaCom has been shipping its powerful switch fabric and traffic management silicon subsystems to Tier 1 networking OEMs since 2001," said Savio Tung, Managing Partner of Investcorp. "Moreover, these customers are now ramping up their production volume to meet major service providers' infrastructure deployments during the remainder of 2003. Ultimately, that is what really counts." "We are extremely pleased that ZettaCom's strong market traction and product leadership have been validated by leading investors," said Daryn Lau, chairman and CEO of ZettaCom. "We will use these additional financial resources to roll out next generation products that will cement our position as a champion of innovative semiconductor solutions for next generation network system architectures." In addition to NVP and Investcorp, investors participating in the round include: Banc of America Securities LLC, China Development Industrial Bank, Crimson Ventures, Development Bank of Singapore, Granite Global Ventures, Hotung Capital, Infineon Ventures, J. & W. Seligman & Co., JPMorgan Partners, k1 Ventures, Unipac, United Investments, U.S. Bancorp Piper Jaffray, Venrock Associates, and Vertex Management. ZettaCom Inc.