Monday, March 16, 2009

Zeugma Closes $9 Million for its Service Delivery Router

Zeugma Systems, a start-up based in Vancouver, has closed approximately $9 million as a part of its Series C funding round. This round brings total funding to date to $50 million.

The company's flagship Zeugma Services Node (ZSN) is a service delivery router (SDR) that enables service providers to rapidly prototype and launch revenue-generating services. The hardware platform integrates routing, subscriber, and service management in a single chassis powered by high-performance, multi-core packet processors. A set of Smart Series applications run within the Zeugma Open Application Sandbox (OAS) to provide granular choices for defining basic and advanced broadband services. Zeugma Smart Series applications include SmartVideo, SmartMeter, SmartVOIP, and SmartMonitor.

Investors in the company include Granite Ventures, Ventures West, Vertex Venture Capital, GrowthWorks Capital Ltd., Yaletown Venture Partners, BC Advantage Funds, and GTD Capital. The company will use the funding for global expansion of its customer-facing sales and support activities as well as for continued R&D.

"A significant opportunity is emerging for systems that allow broadband service providers to monetize and meter the traffic -- especially streaming internet video -- already traversing their networks. The rapid acceptance we've received is clear validation of the ability of Zeugma's technology and products to deliver this capability while also performing essential broadband aggregation and subscriber management functions. Zeugma's innovative technology, coupled with partnerships with internet video players, application developers, and other vendors, are causing BSPs to rethink edge network architectures," stated Zeugma CEO Andrew Harries.

  • Zeugma Systems is led by Andrew Harries, co-founder, President and CEO and who previously co-founded Sierra Wireless Inc.; Siegfried Luft, founder, CTO and formerly a senior development executive at Redback Networks; Jeff Dillabough, VP Engineering, formerly at PMC-Sierra; Tom Meehan, VP product management, previously at Redback Networks; Wayne Shackelford, SVP Worldwide Sales, who formerly led sales at several startups and at Newbridge Networks USA; and Kevin Walsh, VP of Marketing, who previously was VP of Corporate Marketing at Calix.

  • The name Zeugma refers to an ancient city located in the Gaziantep Province of Turkey that was named for the bridge of boats, or zeugma, which crossed the Euphrates there. During the Roman Empire, the city held strategic importance due to its location on the Silk Road.