Edgeflow Secures Funding of $24 Million

OTTAWA, Canada, Sept. 21 -- Edgeflow Inc., a developer of an advanced metro optical networking element called an optical add/drop switch (OADX), announces the completion of a US $24 million Series A round of funding. The funding will be used to expand the company's activities in sales, customer service, as well as further market and product development.

The lead investors in this round were Sierra Ventures and Newbury Ventures, a private equity firm focused on investments in communications and information technology companies. Joining seed investor Venture Coaches in this round, new investors include Desjardins Venture Capital Group, Primaxis Technology Ventures, RBC Capital Partners Telecom Fund, BTG and Pan Dacom Networking AG of Germany.

With this infusion of funding, Edgeflow is well positioned to achieve their next major milestone -- customer trials. Every major carrier is looking to build a wavelength infrastructure and the solution from edgeflow lets them do it faster and for less cost than any of the competing solutions.

Unlike all-optical approaches, Edgeflow provides performance monitoring and network management that makes point-and-click provisioning of wavelengths a reality. Edgeflow's patent-protected approach positions the company to secure a leadership position in this emerging market.