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Networking software provider nets $12.5M funding

Sep 26, 2002 — by LinuxDevices Staff — from the LinuxDevices Archive — 1 views

Cary, NC and San Jose, CA — (press release excerpt) — LVL7 Systems announced today that it has secured $12.5 million in an oversubscribed, Series B funding round. LVL7 previously received $10 million in seed, private, and strategic investments. LVL7 provides integrated networking software products for the Ethernet TCP/IP marketplace.

LVL7's Fastpath software, which was awarded NetWorld + Interop 2002's 'best embedded networking technology product', includes verified protocols, applications, and device driver code for building advanced Fast, Gigabit, and 10 Gigabit Ethernet networking infrastructure products. Fastpath runs across multiple embedded operating systems including Linux (MontaVista and Red Hat) and VxWorks, and is silicon independent.

Gabriel Venture Partners, of Redwood Shores, CA, and Annapolis, MD, and H.I.G. Ventures, of Atlanta, GA, jointly led the investment round. Both venture firms have executives with previous experience in the networking industry and have additional investments in networking technology companies, including Agere, Comstellar, and IP Wireless.

LVL7 is a privately held company located near Research Triangle Park, North Carolina.

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