Content area
Full Text
Confident that the company has successfully reworked itself, early investors in chipmaker Azanda Network Devices Inc. have stepped forward with $19 million in a second round to launch its telecommunications network products.
The round co-led by Menlo Park, Calif.'s Bessemer Venture Partners, Boston's Highland Capital Partners and Wellesley, Mass.- based Commonwealth Capital Ventures, along with New York's Goldman, Sachs & Co., follows a $10 million June 2000 round by the same investors.
The new round backs a slightly reconfigured company that, with a handful of others, has retooled its products and market message to serve network equipment makers eager to enhance existing networks.
"Instead of waiting for the market for the latest, greatest technology, they have adapted their positioning to accommodate OEMs (original equipment manufacturers)," said Bob Wheeler, a senior analyst with...