Wednesday, September 26, 2007

Overture Raises $12.3 Million for Carrier Ethernet Platforms

Overture Networks, a start-up based in Research Triangle Park, North Carolina, raised $12.3 million in Series C financing for its converged packet access platforms for Carrier Ethernet services.

Overture Networks develops network edge and aggregation systems that allow carriers to deploy uniform managed Carrier Ethernet services to every customer location, whether accessible over direct fiber, optical transport or copper. Overture's ISG platform is designed to deliver any mix of Ethernet and TDM service combinations. Interface options range from NxT1/E1 to Gigabit Ethernet.

Lehman Brothers Venture Partners, a new investor in Overture Networks, led the round with a total of $7 million. Current investors Morgenthaler Ventures, Intersouth Partners, TDF, Armada Ventures, Gray Ventures and other existing investors provided the remaining amount.

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