Doelz Networks of Irvine has secured $10.85 million in a third round of venture capital financing, bringing total venture investments in the company since 1982 to more than $25 million. The new investors in the electronics company include Accel, Battery Ventures, City Bank Trust, Montgomery Ventures and Oak Management.
Company officials say the proceeds from the third round will be used to add marketing and sales functions and increase manufacturing capability of its switching devices.
Initial funding of $4.75 million was received in late 1982, and second round financing of $10 million was secured in March 1984. Doelz, a six-year-old company, currently employs more than 100.