General Bandwidth lands $66 M in VC funds
Just when high-tech VC funds seem a nice historical footnote, another big deal goes down to pull it out of the archives.
General Bandwidth Inc. picked up $66 million in a fourth round of funding, led by mutual funds firm Invesco. The round brings the company's total VC financing to nearly $150 million since 1999.
The company says it will use the funds to continue R&D, and to expand customer service and support. It expects to increase its 280-worker staff by 5 percent, it reports.
General Bandwidth's G6 multiapplication platform was designed for large carriers and allows them to deploy voice over broadband with existing legacy telecom infrastructure.
Investors also include Texas Instruments, Wheatley Partners, Granite Global Ventures, and several former investors, including Sevin Rosen Funds, Sequoia Capital and Oak Investment Partners.