Tuesday, February 8, 2005

LVL7 Closes $21 Million for Networking Software

LVL7 Systems, a start-up based near Research Triangle Park, North Carolina., raised $21 million in Series C funding for its networking software. LVL7's FASTPATH software allows equipment manufacturers to reduce their reliance on internal software development and test organizations and decrease expenses, risks and timelines. The company said it now has a customer base of 40 system manufacturers.

The oversubscribed funding round was led by Silicon Valley-based venture capital firm USVP. The funding round also included participation from Lighthouse Capital Partners and LVL7's previous investors: The Carlyle Group, Gabriel Venture Partners, H.I.G. Ventures, and Research Triangle Ventures.


See also