RealTime IT News

Epoch Gets $25 Million Capital Injection

Internet solutions provider Epoch Internet today announced it received an additional $25 million of equity financing to support its business expansion and product development plans.

Epoch said the capital will enable it to keep growing under its existing business plan and increase its nationwide network coverage from 180 Points of Presence (POPs) to more than 300 POPs. Also planned is the expansion of the company's "virtual ISP" program for use by U.S. communications companies.

The Irvine, CA-based Internet company provides high-speed dedicated access (DSL, 56Kbps to T-3), analog dial-up connections, Web site and e-mail hosting, server co-location, firewall solutions and Virtual Private Networks (VPNs), electronic commerce solutions, and various Internet services for telcos.

New investors Arete Ventures and Dolphin Communications join HarbourVest Venture Partners, Providence Equity Partners, Gold & Appel, Prime New Ventures, and CIBC Capital Partners in this latest round of financing.

"With the new equity investment, we plan to further increase our infrastructure and product offerings, allowing us to expand our geographic reach throughout the United States and roll-out innovative products such as Metering Internet service, DSL and video-conferencing," said Scott Purcell, president and chief executive officer, Epoch Internet.