The last time Paul Ferri and Todd Dagres backed Jim Dolce, they hit a homerun with communications equipment provider Redstone Communications. So it’s no surprise that the pair is back on board for Dolce’s latest startup – a stealthy endeavor known as VeriVue Inc.
Ferri is still a general partner with Matrix Partners, while Dagres has moved on from Battery Ventures (which invested in Redstone) to Spark Capital. The two firms have quietly participated in a $25 million Series A for VeriVue, although neither Ferri nor Dagres returned messages requesting comment on the deal. I reached Dolce at his Westford, Mass. office, but he said to call back tomorrow. (Tuesday Update: I called back, and Dolce said he didn’t want to talk, because he’s “keeping the company under wraps for now.”)
So while we wait until tomorrow, what do we know about VeriVue today? Not much.
A regulatory filing only says that VeriVue will “develop and market telecommunications and related products and services.” Light Reading reported earlier this month that it might be involved in something “video-related” — and that probably makes sense given Dagres’ demonstrated video predilection – but such speculation was based on a single, unidentified source.
We do know a bit about the VeriVue management team, however. In addition to Dolce, there is former Unisphere CFO Mark Nasiff and Sonus Networks co-founder Robin Gruber. For context, Unisphere (a Siemens subsidiary) bought Redstone Communications just two years after its initial funding for $500 million. Four years later, Siemens would sell Unisphere to Juniper Networks for $740 million. Dolce served as CEO of Unisphere, and later held a senior executive position with Jupiter before leaving in 2005. In addition, Matrix was an original investor in Sonus Networks.
The VeriVue tech team includes Bruno DiPlacido (formerly with Intel), David Ready (Enterasys Networks) and Brett Granger (Motorola).