Friday, September 23, 2005

Force10 raises (another) mezzanine round

"Force10 Networks Inc. has raised another $40 million in venture funding, which investors believe will be enough to take it to IPO, Light Reading has learned.
The funding, which closed during the summer, was intended as extra margin while Force10 undergoes the IPO process, says Dick Kramlich, a Force10 board member and a partner at New Enterprise Associates (NEA). (See the recent Light Reading interview: Dick Kramlich, Founder & General Partner, NEA.)"

[Light Reading]

Valuation will prob have to be over a billion for investors to make any substantial money back on the deal. $324M total pumped into the company.

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