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Another good session for NexTone as it raises $10M

Posted: 19 Jul 2004 ?? ?Print Version ?Bookmark and Share

Keywords:nextone communications? controller?

Session controller specialist NexTone Communications has closed a $10 million Series C funding round, bringing the company's total venture capital financing to $32.5 million.

The company said it would use the additional funds for further product development, to accelerate its penetration into top-tier global carrier accounts, and for international expansion.

Its session management products have already been deployed in more than 140 carrier networks worldwide and the company says they help manage more than 3 billion minutes of VoIP traffic per month.

The latest round was led by BCE Capital, the venture arm of Bell Canada Enterprises, with all existing investors participating. These include Core Capital, Mid-Atlantic Venture Funds, Safeguard Scientifics, Inc., Delmag Ventures, and Blue Rock Capital. Several session controller start-ups have attracted funds or announced partnerships recently, including Netrake Corp., Acme Packet and Kagoor Networks. Another, U.K.-based Newport Networks Ltd has just announced an IPO.

Yankee group recently predicted that the market for session controllers would grow from very little last year to almost $1.2 billion by 2008.

- John Walko

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