SOURCE: Dune Networks

Dune Networks

May 04, 2009 08:00 ET

Evergreen Backs Dune's Growth by Leading $8.3M Investment Round

Funds to Be Used for Continued Expansion of Dune's Operations

SUNNYVALE, CA--(Marketwire - May 4, 2009) - Dune Networks, a provider of networking devices for Metro Ethernet, Enterprise and Data Center platforms, today announced that it expanded its recent series B investment round by raising an additional $8.3M led by Evergreen Venture Partners. Evergreen joins existing series B investors USVP, Pitango, Aurum, JVP and Alta Berkeley.

This additional funding brings the total amount of funding raised to date to $53M. With over 100 different product adoptions and growing revenues, Dune will use the new funding to expand sales and support of its growing list of customers, and to accelerate product development.

"Despite the fact that Dune recently reached profitability and maintains a strong cash position, we decided to take additional cash to further improve our balance sheet and to safely expand our operation," said Dune Networks' CEO, Eyal Dagan. "Dune welcomes Evergreen's leading role in our latest round of financing."

"Dune has established itself as a premier supplier of networking devices. It has a comprehensive customer base, broad market acceptance, and a clear technology leadership position," Said Boaz Dinte, Managing Partner at Evergreen Venture Partners, who joined Dune's Board as part of the investment. "We are delighted to join Dune's investors and see the enthusiasm for Dune which is shared by all the investors."

ABOUT EVERGREEN VENTURE PARTNERS

Evergreen Venture Partners was established in 1987 as one of Israel's first venture capital firms. Evergreen invests in early-stage Israeli and Israel-related companies in the following fields: software, internet & media, communications and healthcare. Evergreen's $650 million of venture capital funds under management represents one of the largest portfolios in Israel with investments in over 120 technology start-ups. Evergreen has exited successfully 35 portfolio companies through IPOs and acquisitions. Some of these companies include Traiana, Colbar, Identify, BigBand, P-Cube, Actona, Backweb, Exalink, Radvision and Radware. Evergreen is currently investing from its fifth generation fund, Evergreen V, a $200M fund. For more information, please visit www.evergreen.co.il

ABOUT DUNE NETWORKS

Dune Networks (www.dunenetworks.com) is a semiconductor supplier of networking devices, facilitating the build of Data Center, Enterprise and Carrier Ethernet Solutions. Dune provides a switching solution that truly scales in capacity, port rate, and service scheme. This extends the life cycle of packet platforms from the legacy 3 years up to 10 years and more, revolutionizing the economics of packet networks. Founded in the year 2000, Dune offices are located in Sunnyvale, California and in Yakum, Israel.

Copyright © 2009 Dune. All Rights Reserved.

PETRA, SPAUI, SAND, FAP10M, FAP10/20V, FE, FE200, FE600, Negev, and Gobi are all trademarks and the property of Dune. All other trademarks are the property of their respective owners.

Contact Information

  • DUNE MEDIA CONTACT
    Dune Networks
    Philip Hyams
    Marcom Manager
    In Israel call: +972-77-777-5222 ext: 5958
    In the US call: 1-408-738-3322
    Email: Email Contact