December 8, 2003
- Sunnyvale, CA
Azanda Network Devices, an innovator in the development of integrated traffic processing products for access, edge and core networks, today announced that it has closed $10 million in a Series C funding round. All of Azanda's current major investors participated in the round, including Bessemer Venture Partners, Highland Capital Partners, Newbury Ventures, Commonwealth Capital Ventures, GS PEP Technology Fund, an affiliate of Goldman Sachs Asset Management, and Wall Street Technology Partners LP, a New York-based technology fund managed by Dresdner Kleinwort Capital (DrKC).
Azanda's first-generation Scimitar and Saber traffic managers are now in volume production and have secured multiple design wins with Tier-1 OEMs. Azanda will use the additional funding to complete development of a new family of traffic processing products, as well as to continue to bolster the company's successful sales and marketing efforts.
"This latest round of funding is a further milestone in Azanda's evolution, and we will continue to deliver innovative traffic processing silicon that will establish new standards for performance, size and power," said Steve Dines, president and CEO of Azanda. "Now that we have established a customer base and a revenue stream we look forward to using this additional funding to dramatically expand the scope of Azanda's products on the line card through new product development."
"The Azanda team has secured excellent customer traction, and are rapidly solidifying their position at the forefront of this market segment," stated Sean Dalton, general partner at Highland Capital Partners.
Azanda's traffic management products integrate three critical functions into a single-chip: 1) simultaneous packet and ATM switching; 2) hierarchical shaping and scheduling; and 3) IP-to-ATM, or Frame Relay-to-ATM interworking via an integrated, wire-speed Segmentation and Re-assembly (SAR) engine. Moreover, Azanda's products concurrently perform these functions for as many as one million Virtual Circuits (VCs) at full-duplex OC-48 speeds. This approach gives networking OEMs a cost-effective means to consolidate these functions on a single platform for a variety of access technologies, including multi-service switches, ATM, DSL, Passive Optical Networking (PONs), cable and broadband wireless.
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