Overture raises $17m in new capital

Staff writer
13 May 2010
00:00

Carrier Ethernet equipment provider Overture Networks has raised $17.2 million in equity funding to finance its growth plans.

The vendor closed the oversubscribed funding round last month, soliciting a new lead investor, QuestMark Partners.

As part of the transaction, QuestMark partner Tim Krongard has been granted a seat on Overture's board.

“The demand for Carrier Ethernet has continued to explode and we believe that Overture Networks has the team, technology and customer relationships in place to take full advantage of this market opportunity,” Krongard said.

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