Mangrove Systems, a start-up based in Wallingford, Connecticut, secured over $20 million in financing for its development of a GFP-based Transport Aware Switching system. GFP (generic framing procedure) is a method of supporting a wide range of service types and protocols (TDM, Ethernet, ATM and storage transport) over embedded SONET infrastructure. Product plans have not yet been announced. The new funding includes combined investment from Bessemer Venture Partners, Highland Capital Partners, Columbia Capital, and Silicon Valley Bank.
http://www.mangrovesystems.com
- Mangrove Systems was founded in mid-2002. The company is headed by Jonathan Reeves, who formerly founded and served as Chairman and CEO of Sahara Networks (acquired by Cascade and then Ascend), and who also founded Sirocco Systems (acquired by Sycamore Networks).