CENX Inc., a developer of Carrier Ethernet interconnect systems and services, has closed on $9.5 million in new funding. Verizon Investments, a subsidiary of Verizon Communications Inc., and Mesirow Financial Private Equity led the round. Return backers DCM, Highland Capital Partners and Wasatch also participated.
CENX, Inc., a pioneer in Carrier Ethernet interconnect systems and services, announced today that Verizon Investments LLC, a subsidiary of Verizon Communications Inc., and Mesirow Financial Private Equity, Inc. have led a $9.5m investment in CENX. Current CENX investors DCM, Highland Capital Partners, and Wasatch also participated in the investment. Verizon’s Investments is an affiliate of Verizon Ventures, the strategic venture capital arm for Verizon. CENX will use the funds to meet the requirements and opportunities associated with its growing list of tier-1 wireless & wireline operator customers through increased system, engineering and support resources.
“CENX is poised to grow significantly after winning business at multiple tier-one operators in North America,” said Nan Chen, Co-Founder & President of CENX. “We are very pleased that Verizon and Mesirow co-led the financing to fuel our next stage of growth.”
“The telecommunications industry is in a massive transition from TDM to Ethernet/IP-based networks and services,” said Daniel Keoppel, Executive Director at Verizon Ventures. “This raises significant operational opportunities to be served by new Ethernet/IP-centric telecom systems, processes and services.”
“CENX has developed an industry-leading solution to address operational aspects of the transition to Ethernet/IP,” said Tom Galuhn, President of Mesirow Financial Private Equity, Inc. “With its Ethernet expertise and innovative systems, CENX could deliver 25% or more annual opex savings for Ethernet mobile backhaul and enterprise Ethernet access.”
CENX’s industry first and only Carrier Ethernet Interconnect Systems & Services enable wireless and wireline operators to build, manage and optimize their Ethernet/IP networks cost-effectively for 4G mobile backhaul and enterprise access, and deliver the following values:
Lower Access Costs: CENX Systems address the operational challenges associated with buying off-net Ethernet access services, allowing rapid migration from TDM, more access vendor coverage, and the ability to support the more cost-effective multiple classes of service (Multi-CoS) access circuits.
Accelerated Time-To-Market: With CENX automation, Ethernet access design, ordering, provisioning, integration, test and turn-up can be performed much more rapidly.
Improved End-User Experience: CENX deep analytics assess Ethernet SLA compliance and offer trouble and performance sectionalization across multiple Ethernet/IP transport domains to enforce the quality required by the mobile & enterprise end-users.
For full details on CENX’s Carrier Ethernet Interconnect Systems and Services, please visit us at www.cenx.com
CENX, Inc., is a pioneer and leader in Carrier Ethernet interconnect systems and services for mobile backhaul and enterprise Ethernet access. Recognized by multiple leading publications for its innovation, CENX’s award-winning and industry first & only Carrier Ethernet Interconnect Systems & Services enable operators to cost-effectively build, manage and optimize their Carrier Ethernet networks while lowering access cost, accelerating time-to-market, and improving end-user experience. Through its work at the MEF (www.MetroEthernetForum.org) and in the industry, the CENX team has been playing a leading role in the definition of standards and the development of the Carrier Ethernet market over the past ten years.