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| COMPANY CONTACT Jeff Raice Packet Design, Inc 408.490.1034 jeff@packetdesign.com |
AGENCY CONTACT Janis Ulevich Ulevich & Orrange, Inc. 650.329.1590 info@u-o.com |
PACKET DESIGN RAISES $12 MILLION IN
FOURTH ROUND OF FUNDING
Round Includes $2 Million Strategic Investment from Juniper Networks
SANTA CLARA, Calif., Sept. 15, 2008 – Packet Design, Inc., the pioneer in the field of route analytics solutions for managing large IP networks, has raised $12 million in a fourth round of private funding.
Juniper Networks, Packet Design's first strategic investment partner, has invested $2 million. In addition, past investors Advanced Technology Ventures, Masthead Venture Partners and Mayfield Fund have returned as lead investors in the round.
Packet Design CEO Jack Bradley said the new funding will be used to expand the company's network management product line and grow its international sales force, and is expected to carry the company to a break-even cash flow by the end of 2009. Packet Design completed a move this summer into larger headquarters in Santa Clara.
"We grew 80 percent from 2006 to 2007 and now have more than 300 customers worldwide," Bradley said. "We are seeing tremendous growth in developing countries, particularly in the Middle East, Africa and Asia Pacific, as the voice and data infrastructures in these regions become larger and more sophisticated.
"We're delighted that our lead venture investors from earlier fundings continue to express support and excitement for our business, and especially that Juniper, a leader and innovator in high-performance networking, has come in as our first strategic investor partner."
Mike Harding, Juniper's vice president of network management, said, "We are excited to invest in Packet Design, a company that we believe will help bring essential network management technology to customers as they deploy next-generation networks. An innovator in both routing and traffic analysis, Packet Design offers best-of-breed solutions that will let customers maintain the highest network quality as their infrastructures grow ever larger and more complex."
With earlier rounds of $14.5 million in 2003, $10.5 million in 2005 and $7.5 million in 2006, the new funding brings Packet Design's total financing to $44.5 million.
Packet Design's board of directors includes Bradley; Judy Estrin (chairman); Wes Raffel, general partner at Advanced Technology Ventures; Yogen Dalal, managing partner at Mayfield; and Stephen K. Smith, general partner at Masthead Venture Partners.
About Packet Design, Inc.
Packet Design, Inc., pioneered the field of route analytics and is the leading supplier of network appliances that provide routing-layer visibility into IP networks. The company's products create an accurate layer 3 topology map, analyze routing events, and provide a unique end-to-end, "path-aware" view of network traffic (including MPLS-VPN customer traffic), letting network engineers quickly pinpoint network problems and accurately model changes. Packet Design solutions help manage networks in hundreds of organizations, including many of the world's largest service providers, global enterprises (financial, retail pharmaceutical and other firms), government agencies and educational institutions.
Packet Design was founded in March 2003 by serial entrepreneur and former Cisco Chief Technology Officer Judy Estrin and former Cisco Chief Scientist Van Jacobson. For more information, visit www.packetdesign.com.
Juniper Networks is a registered trademark of Juniper Networks, Inc., in the United States and other countries.
Learn more about Packet Design products
© 2008. Packet Design Inc.
