Intune Raises $17.75M
DUBLIN, Ireland, Aug. 10, 2007 -- Intune Networks, a maker of optical switching products, announced it has raised $17.75 million from a consortium of investors: Amadeus Capital Partners, Balderton Capital (formerly Benchmark Capital Europe) and Spark Capital.
Intune was formed in Dublin, Ireland in 1999 by John Dunne, chief marketing officer, and Tom Farrell, chief technology officer.
Last August, the company recruited Tim Fritzley, a senior executive in Microsoft’s Internet Protocal TV (IPTV) division, as its chief executive.
Intune said the funding will enable it to develop new products for telecommunications markets.
"Intune has the technology to solve some key problems for the large carriers, particularly with guaranteed service quality and network robustness," Fritzley said. "The proceeds of the funding round give management the resources to accelerate its strategy."
For more information, visit: www.intunenetworks.com