Carrius Technologies Raises $14.5M in Series B Financing Round

RICHARDSON, TEXAS (JUNE 21, 2004) — Carrius Technologies has announced that it has completed a $14.5 million Series B financing. Sevin Rosen Funds led the round, with full participation of the existing major investors Star Ventures , Centerpoint Ventures and Chisholm Private Capital Partners. This round complements the $12.5M Series A financing in early 2003.

Allen Adams, Chairman and CEO of Carrius stated that "under the guidance of our current investors, we have been able to make significant strides in developing new products and connecting them to target markets within 12 months of our initial funding. With more and more services now rapidly moving to Voice over Internet Protocol (VoIP), we are able to offer the telecom industry exciting products and enable our customers to create new services and introduce substantial operating efficiencies into their networks. This new round of financing allows us to expand our marketing, sales, and support infrastructure, and begin addressing additional markets."

Jon Bayless, general partner, Sevin Rosen Funds, who joins the Carrius board of directors, stated that "we value innovative ideas, especially when they are coupled with strong management teams with strategic vision and deep understanding of target markets. The Carrius management team has demonstrated to us that their strategy of staged market entry with innovative products will enable them to launch a succession of products with increasing levels of impact in diverse markets. Carrius will thus address both new and latent network opportunities in the short- and the long-run."

"One Carrius product, for example, enables local exchange carriers to transition their existing switching systems to IP over time, when and where needed, without disrupting embedded operations," added Bayless.

This week at SuperComm, Carrius is launching its Compleat™ family of products, including the Compleat-100 IP-based programmable network services platform; the Compleat-200 intelligent IP gateway; the Compleat-300 broadband switch, and the Compleat-400 access gateway to transition legacy DLC loop systems to VoIP.

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To learn more about Chisholm Private Capital Partners, please visit www.chisholmvc.com.