reprint
back

Xelerated Packet Devices Raises $12 Million in Series B
By Michelle Tsai
10/16/2001
STOCKHOLM, Sweden -- Xelerated Packet Devices, a provider of high-speed network processors, said it has closed $12 million in Series B financing.

New investor Atlas Venture led the round, which also included new investor Alta Partners and existing investor Startupfactory. Gerry Montanus, senior principal at Atlas Venture, and Khlade Nasr, general partner at Alta Partners, join the board, which now has six directors.

New funds will be used for product development and launch, U.S. expansion, and general operations through 2002. The staff of 42 will increase by 10 or 15 employees in the next year.

http://www.xelerated.com