Zeugma Announces Series C Funding;Total Funding Approaches $50 Million
Company Will Use New Funding for Global Expansion of Sales and Marketing, Continued R&D
MARCH 17, 2009, VANCOUVER, BC—Zeugma Systems, a supplier of open telecommunications solutions for broadband service providers (BSPs), today announced it has closed approximately $9 million as a part of its Series C funding round. This round brings total funding to date to $50 million. Investors 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.
“Zeugma’s focus on service creation and revenue generation for broadband service providers is on the mark for the current economic environment,” said Sam Kingsland, managing director at Granite Ventures. “There is a massive transformation occurring in the way video entertainment is distributed and consumed, creating both significant challenges and immense opportunities for BSPs. With its combination of strong new products that fill real needs and an experienced management team, Zeugma is delivering compelling solutions to carriers looking for new revenue and growth.”
Zeugma CEO Andrew Harries added, “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.”
Zeugma supplies solutions to broadband service providers around the world. Its flagship product, Zeugma Services Node (ZSN), is a service delivery router (SDR), a new class of equipment that enables service providers to rapidly prototype and launch revenue-generating services. The Zeugma Open Application Sandbox (OAS) supports the rapid rollout of a multiplicity of applications developed by Zeugma (the Zeugma Smart™ Series), the service provider, or third parties. Zeugma Smart Series applications include SmartVideo, SmartMeter, SmartVOIP, and SmartMonitor.
About Zeugma Systems
Zeugma Systems delivers open telecommunications solutions that accelerate new service deployment for broadband service providers of all types. The Zeugma Services Node, a service delivery router, combines massive compute resources with next-generation capacity, service awareness, and subscriber management to yield reliable application integration, rapid turn-up of new services, and a quality video experience. For additional information, please visit www.zeugmasystems.com.
To view Zeugma’s blog, please visit zeugmablog.typepad.com.
Contact Information
Jeannette Bitz
Engage PR
510-748-8200 x207
jbitz@engagepr.com