Intel Capital joined the company's sixth financing round alongside current investors.
WAN optimization start-up Expand Networks Ltd. has raised $10 million in its sixth financing round. A new investor, Intel Capital, joined the round alongside Discount Investment Corporation (TASE: DISI), Tamir Fishman Venture Capital (TASE: TFVC), Challenge Fund - Etgar, and Vertex Venture Capital. The company has raised $77 million to date, including the current round. The company declined to comment on the report.
Earlier this year, Expand Networks obtained a $5 million credit line from Plenus Venture Lending Fund, and according to IVC Online, the company raised $21 million in its fifth financing round.
Expand Networks had about $20-30 million in sales in 2007, and has 170 employees. The company develops hardware and software solutions for optimizing wide area network (WAN) applications.
Published by Globes [online], Israel business news - www.globes-online.com - on August 6, 2008
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