"We were impressed by Netformx’s strong partnerships with Cisco and other leading manufacturers, the breadth of their solution, and the impressive list of blue chip customers." - Jonathan Klahr, SGE
Santa Clara, CA (PRWEB) December 14, 2009
Netformx, a global leader in telecom design and proposal generation platforms, is pleased to announce that it has secured a $12 million growth financing and recapitalization round. The growth capital will be used to accelerate the company’s international expansion as it continues to support the proliferation of its award winning end-to-end software solutions for automating the discovery, design, quoting and proposing of enterprise communications networks and services.
Susquehanna Growth Equity, LLC (SGE), a private equity group investing in growth capital and late stage venture companies, was the sole new investor in the round. As part of the financing, Amir Goldman and Jonathan Klahr of SGE will join the board of directors. Valley Venture Capital, an existing shareholder in the company, participated in the financing and David (Dede) Goldschmidt will remain on the board.
"We were impressed by Netformx’s strong partnerships with Cisco and other leading manufacturers, the breadth of their solution, and the impressive list of blue chip customers. These factors have enabled Netformx to claim all of the top US-based enterprise communication service providers as customers," remarked Jonathan Klahr of SGE. "This funding will enable Netformx to meet the burgeoning demand in the communications and enterprise markets for a more efficient and more transparent network design, planning, sales and implementation experience.”
Commenting on this round of investment, Ittai Bareket, CEO of Netformx, said, "We are excited by the confidence SGE has shown in our business and in the opportunity it creates, enabling us to invest more aggressively in global expansion, while continuing to build innovative solutions that will enable our customers to increase both revenue and profitability. Netformx was recently recognized as one of the Top 25 fastest growing privately held companies in Silicon Valley; we look forward to continuing to build on the company’s growth of the past five years."
Netformx automates the end-to-end process of designing networks and enables collaborative workflows within and across organizations. Service providers, systems integrators and manufacturers use the award winning Netformx Solutions worldwide to transform enterprise customer requirements into deployable network solutions. Today, at least 25,000 networking design and sales professionals around the globe use Netformx products. Our users are part of high-performance teams at systems integrators and service providers that include AT&T, Bell Canada, Sprint, Verizon, Mountain West Telecom, CenturyLink, HP Network Solution Group, Orange Business, Dimension Data, Belgacom and many others, both large and small. In addition, Netformx equipment vendor partners include Cisco, Nortel, Juniper, Avaya, TrippLite, Adtran, APC, Belden, and TerraWave Solutions among others.
Founded in 1994, Netformx is a privately held company headquartered in California’s Silicon Valley and maintains an R&D facility in Tel Aviv, Israel. More information can be found at http://www.netformx.com.
About Susquehanna Growth Equity, LLC (SGE):
Susquehanna Growth Equity, LLC (SGE) is a private equity group investing in growth capital and buyout opportunities in financial technology, information services, and software. SGE utilizes its financial and strategic expertise, industry relationships, vast resources, and strong work ethic to help management teams build great companies.
SGE is a member of the Susquehanna International Group of companies (SIG), which has evolved over the past twenty years into a leading financial institution focusing on trading and market making, institutional sales and research, and private equity. With approximately 1,500 employees and a global footprint, SIG is one of the largest privately held financial institutions in the world.
For more information see http://www.sgep.com.