Yipes yips over funding
NetworkWorld.com, 06/02/06
Yipes Enterprise Services this week said it completed its fourth round of funding for $17.5 million.
The funding includes a $9 million line of credit from SVB Silicon Valley Bank and additional Series D funding of $8.5 million from existing Yipes investors -- Crosslink Capital, Norwest Venture Partners, JPMorgan Partners, LLC and Sprout Group, a venture capital affiliate of Credit Suisse.
Yipes, a pioneer of the Ethernet services industry, said the funding will be used to expand into new markets and develop new products. Infonetics Research forecasts worldwide Ethernet services revenue to increase 280% between 2005 and 2009 to $22.5 billion.
According to Vertical Systems Group, Yipes is one of the top 10 Ethernet service providers in the U.S.
-- Jim Duffy
TrackBack
Back to WAN Notes
Comments
Post a comment
Network World on Twitter: Get our tweets and stay plugged in to networking news
