Start-up Atrica has raised $16 million from prominent concerns. The company declined to disclose the company value for the financing round, but mentioned a $150-200 million range, after money. Investors included leading US venture capital funds Accel Partners and Benchmark Capital, as well as Innovacom, France Telecom’s investment fund.
This capital raising round follows the company’s initial financing, provided by 3Com International at the beginning of the year. 3Com chairman Eric Benhamou and Benchmark partner Alex Balkanski became Atrica directors on 3Com’s investment.
Atrica was founded in February by CEO Avinoam Rubinstain and VP R&D & Human Resources Zvika Bronstein. Rubinstain is a former VP of 3Com Israel and general manager of Nicecom. Bronstein was 3Com Israel development manager.
Atrica develops Optical Ethernet equipment for the metropolitan area networks market. Benhamou praised Atrica: “From the first stage of the idea, we understood at 3Com that Atrica’s founders were on to something big.”
The company has 70 employees, a branch in San Jose, California, an R&D center in Herzliya, and business development and sales offices in Paris.
Benchmark is one of the most successful US funds. Its investors include eBay, Handspring, America Online, Palm, and Juniper. The fund has reportedly invested in one Israeli company to date – PictureVision. Accel’s investors include UUNET, 3Com, Avici Systems, and Noosh. Innovacom is also invested in Israeli company CyOptics.
Published by Israel's Business Arena on September 18, 2000