TOLLBRIDGE TECHNOLOGIES CLOSES SECOND-ROUND FUNDING, BRINGING TOTAL TO $17 MILLION
World View Technology Partners and Sutter Hill Ventures Lead Second Round Sunnyvale, Calif., May 17, 1999 - TollBridge Technologies, developer of voice over broadband solutions for Competitive Local Exchange Carriers (CLECs), announced today that it has closed its second round of venture funding of $11 million, bringing total capital raised by the company to date to $17 million. WorldView Technology Partners (Palo Alto, Calif.) led the second round and Sutter Hill Ventures (Palo Alto, Calif.) also invested, while first-round leaders Matrix Partners (Menlo Park, Calif.) and Communications Ventures (Palo Alto, Calif.) participated on a pro rata basis. TollBridge will use the funds to launch its flagship family of products, currently undergoing testing with major carriers, and to expand its team and channels in preparation for volume shipment. prenotazioni alberghi Rimini"The TollBridge solution allows voice CLECs to tap into the local voice market quickly with a very profitable business model," said John Boyle, general partner at WorldView Technology Partners, a venture capital firm that invests in information technology companies and creates Pacific Rim business development opportunities for portfolio companies. "The convergence of the two previously distinct worlds of voice and data is a very exciting area for investment, and TollBridge is well positioned as a leader in this new space. Using TollBridge's end-to-end solution, both carriers and end users can enjoy the long-promised benefits of local telephone de-regulation and broadband technologies. There is a multi-billion dollar market for the TollBridge solution in the US today, and WorldView believes that there will be a similar follow-on market for such a product set in the Pacific Rim." The TollBridge solution allows CLECs to reach the over seven million small businesses in the US that collectively spent $46 billion in 1998 for voice and data services. Carriers can integrate the TollBridge solution without making any changes to their existing network infrastructure, for quick time to market and high return. About TollBridge Technologies
TollBridge Technologies was founded in March 1998 and has attracted top engineering, marketing, manufacturing, and business development talent from industry leaders in telecommunications and data communications. TollBridge's founders, executive management, and engineering teams are industry veterans who have helped shape the infrastructure and services of today's telecommunications and data communications markets. TollBridge and TollVoiceTM are trademarks of TollBridge Technologies, Inc. All other service marks and trademarks are the property of their respective owners. |
