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Accelerated Networks Gets Millions in Venture Capital

June 23, 1998|BARBARA MURPHY

Accelerated Networks Inc. in Westlake Village has received $14.5 million in venture capital funding from Onset Ventures, Walden International Investment Group, New Enterprise Associates, US Venture Partners and Windward Ventures.

The money will allow the company to pursue its entrance into the fast-growing market for providing telecommunications access.

The company is building products that will enable service providers to offer customers a wide range of services, including high-speed Internet connectivity. The company will use part of the new venture capital to staff its sales and marketing departments and complete research and development efforts on its first product offerings.

Accelerated Networks secured $5.6 million in May 1997 from a variety of venture capitalists.

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