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Article: ASC Secures $35 Million in Financing to Continue Momentum in Network Access Market; Significant Third-Round Investment Validates Company's Broadband Solutions.
- Article from:
- Business Wire
- Article date:
- September 30, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VIENNA, Va.--(BUSINESS WIRE)--Sept. 30, 1999--
Advanced Switching Communications, Inc. (ASC) today announced that it has obtained $35 million in third-round venture capital financing.
This brings the total amount raised by the company in its short two-year history to over $50 million. Investors in this latest round of financing include New Enterprise Associates (NEA), Technology Crossover Ventures (TCV), Morgan Stanley Dean Witter Venture Partners (MSDWVP), Baker Communications Fund and ASC president and CEO Asghar Mostafa.
This funding will support the company's ongoing development of its next-generation Multi-Service Access Platform directed at ...