Intelliden Closes $10 Million in Latest Round of Financing
Intelliden Inc., a leading provider of Intelligent Networking solutions that enable organizations to control, manage and scale their networks, today announced that it has secured up to an additional $10 million in financing. Matrix Partners led this round of financing supported by existing investors including 3i, Granite Global Ventures, Hercules Technology Growth Capital and Westbury Partners. Intelliden intends to use this capital to support aggressive customer acquisition and geographic expansion, and to accelerate its product leadership in Intelligent Networking solutions.
“Companies around the globe are seeking solutions that enable network agility and control, which are pre-requisites to rapid, cost-effective deployment of next generation services,” said Tim Barrows, General Partner at Matrix Partners. “Support and validation of Intelliden’s open, services-oriented paradigm continues to grow and reinforces our conviction in the significant market opportunity for Intelliden.”
The company recently announced that it was entering the Asia Pacific market to capitalize on the growing demand for its solutions in Japan and other countries in the region. In June 2007, Intelliden will launch its Policy-Based Compliance Management solution to automatically detect and correct out-of-compliance network conditions. This solution will provide a new level of control and predictability in dynamic and complex network environments. The company also intends to continue investment in its intellectual property building on its portfolio of ten issued U.S and international patents awarded in 2006 and 2007.
“Our progress as a company and the value we have created over the last few years has been validated by our investors through a significant up-round,” said Alan Black, president and CEO of Intelliden. “We appreciate our investors’ continued trust and confidence and that of our customers whom we serve.”
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