Sunnyvale, Ca/Israel-based P-cube, developer of enabling technology for added value services on IP networks, is to complete a third, $40 million financing round by the end of this year's first quarter, TheMarker has learned.
The round will be held according to lower valuation than the one held in May of 2000, when the company raised $20 million according to post-money value of $160 million. Shareholders in the company include Evergreen Canada Israel Investments, Singapore Telecommunications (SES:TELE.SI), the American fund Excel Partners, Microdent, Eitan Wertheimer's investment company, Sandoz and TDF Ventures.
The funds raised will support products the company launched in the last few months, and the ensuing expansion of its sales, marketing service and customer support channels. The company recently opened an office in the U.K., and appointed Charles L. Simmons VP of sales. Prior to joining P-Cube, Simmons served as Director of Carrier Sales at Commworks, a 3Com Corporation (Nasdaq:COMS) company.