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NextHop Technologies Closes $4.8 Million
Series C
MOUNTAIN VIEW, California – November
30, 2006 – NextHop
Technologies® Inc., the definitive source for
network software solutions, today announced that
it has closed a Series C funding round of $4.8 million.
These funds will be used to accelerate NextHop’s
product vision and expand sales channels for its
unified wired and wireless networking software worldwide.
This most recent financing included all of NextHop's
previous investment partners: New
Enterprise Associates, Duchossois Technology
Partners, Labrador Ventures, and Parker Price Venture
Capital. This brings total funding in the company
to $41.8 million.
"Beyond their traditional networking software,
NextHop Technologies is bringing a very innovative
wireless solution to the market," said Dick Kramlich,
general partner / co-founder, NEA. “We
are pleased to see that the company’s products
have been enthusiastically embraced by their initial
OEM customers, who are aggressively marketing and ramping
production."
NextHop's Dynamic Network Architecture (DNA)
leads the industry in providing the crucial framework
necessary for turnkey networking solutions. Rapid
integration of value-added software components from
independent software vendors translates into shorter
time-to-market, a lower total cost-of-development and
increased revenue for customers.
"With this additional support from our investors,
we remain confident in our financial position and our
ability to gain market share as we move forward. NextHop
plans to accelerate deployment of our industry-leading
software solutions for the next generation of wireless
networks both, domestically and internationally," said
Ed Cluss, president and CEO of NextHop Technologies."
About NextHop Technologies
NextHop Technologies is a leading developer of networking
software solutions, partnering with customers, vendors
and standards bodies, to enable and empower innovation
for the networking and telecommunications market. NextHop
enables turnkey solutions using merchant silicon and
off-the-shelf hardware for the wired and wireless LAN
communications market. NextHop's GateD® legacy
provides the most complete set of routing protocols
in the industry that is more reliable, more tested
and more scalable than any other vendor-neutral solution.
NextHop offers the unique combination of quick time
to market and comprehensive networking functionality
for carrier, enterprise LAN and WLAN equipment manufacturers.
NextHop reaches these customers through a direct sales
model and is based in Mountain View, California. For
further information, please visit www.nexthop.com.
NextHop Technologies and GateD
are registered trademarks and NextHop is a trademark
of NextHop Technologies Inc. All other third party
marks mentioned herein may be trademarks of their
respective owners.
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