RealTime IT News

Telenisus Secures $45M in 3rd Funding Round

Telenisus Corporation, a managed Internet infrastructure provider, has completed its third round (Series C) of private institutional funding, raising $45 million from 10 firms, including six new investors.

J. & W. Seligman led the funding round and was joined by Fort Washington, A.G. Edwards Capital, Sterling Mezzanine Partners LLC, Fenegan Finance Inc. and a strategic partner, Articon-Integralis AG. Second round investors Alta Communications, Bay Partners, ABN AMRO Private Equity and BancBoston Ventures also invested in this new round. Credit Suisse First Boston Technology Group led fundraising efforts as Telenisus' investment advisor.

Telenisus will use the new funds for continued investment in its automated Built for e-Business service delivery platform and to support general business operations, especially the marketing and support of its high performance managed infrastructure services.

Telenisus previously raised more than $58 million in two other private funding rounds. Its Series A round closed November 1999 for $8.3 million from a variety of individual investors and its Series B round in April 2000 generated $50 million from six firms, led by Alta Communications and Bay Partners.