Actelis Networks Receives New Funding Round to Help Finance Explosive Expansion Across Europe and North America
PARIS, September 8, 2009 - Actelis Networks®, the leading global supplier of Ethernet over copper solutions, today announced that the company has received a multi-million dollar funding boost from its investors. This new capital will go toward supporting further growth and deployment of Actelis’ industry-leading Ethernet in the First Mile (EFM) products by telecommunications network service providers, private enterprises in the education and healthcare IT markets, and government municipalities that are upgrading city-wide transportation networks with new Intelligent Transportation Systems (ITS). The new financing also will enable Actelis to take full advantage of opportunities presented from the $7.2 billion broadband stimulus, part of the Obama Administration’s American Recovery and Reinvestment Act (ARRA) of 2009. Existing Actelis investors Adams Street Partners, ATA Ventures, Argonaut Ventures, Carlyle Venture Partners, Dupont Capital Management, Global Catalyst Partners, Individuals’ Venture Fund, Saints Capital, smac | partners, T-Venture, Vertex Venture Capital and The Walden International Investment Group participated in this round of funding.
“The additional funding round is extremely important to maintain Actelis’ strong financial position, further fueling the company’s momentum in the domestic and international marketplaces,” said Tuvia Barlev, president, CEO and co-founder of Actelis. “Carrier Ethernet is the fastest growing market in telecom, and the explosive demand for Actelis’ EFM solutions is presenting a wealth of opportunities for the company.”
With five consecutive years of growth, even during an economic downturn, Actelis continues to experience exceptional expansion across Europe and North America, signing agreements with more than 20 additional new customers over the past two fiscal quarters in 2009.
In Europe, Actelis has signed new agreements with various CLECs and large incumbent network service providers, including NetCologne, Telekom Slovenije and France Telecom-Orange, the number three mobile operator and the number one provider of broadband Internet services in Europe.
In the U.S., Actelis has been working closely with a number of large incumbent network operators as well as tier 2 and tier 3 independent operating carriers, providing ongoing support during their broadband stimulus application process. These innovative service providers can leverage their stimulus dollars and/or use low-interest RUS funds to purchase Actelis’ RUS-listed products, which will enable them to reach subscribers in rural America who traditionally have been out of reach. Additionally in the U.S., municipalities such as the City of Sacramento and the City of San Jose recently deployed Actelis’ ITS solution to improve traffic flow and road safety while reducing emissions. These moves are part of major migration strategies from legacy communication systems to new state-of-the-art, all-IP-based Ethernet over copper networks capable of supporting a variety of intelligent traffic monitoring and control applications.
“In our research, we find that Actelis Networks is a leader in our EFM bonded copper products category, which has a 2008-2013 forecast CAGR in excess of 20%. This category comprises Carrier Ethernet over bonded-copper access products used in a wide range of markets and applications,” said Michael Howard, co-founder and principal analyst at Infonetics Research. “Actelis’ patented EFMplus technology, even though standards-based, has differentiating characteristics, including line capacity, distance, and reliability over copper access networks, from other products, which helps large and small service providers select their equipment.”