Monday, October 30, 2006

Narus Secures $30 Million

"Narus, Inc. today announced that it has secured $30 million in expansion financing. This financing includes $20 million in equity and a $10 million revolving line of credit. The equity component will be led by American Capital Strategies Ltd. (Nasdaq:ACAS). This financing includes participation from existing investors including Mayfield Fund, Pacven Walden Ventures, JP Morgan Partners and NeoCarta Ventures. The funding will be used primarily to develop the next generation of award-winning NarusInsight™ products, and to accelerate the company’s global channel initiative to support the worldwide adoption for its products.
“Narus is the pioneer in the emerging growth market for the protection and management of carrier networks,” said Greg Smitherman, Managing Director at American Capital Strategies. “American Capital is extremely excited about the unique opportunity to invest in a company that has achieved market leadership through both superior technology and a proven business model.” "

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