Friday, August 11, 2006

Mangrove Systems Raises $13.2 Million in Third Round - Wallingford, CT

Mangrove Systems, a Wallingford-based provider of platforms for wireless and wireline communication networks, has raised $13.2 million in its third round of venture capital, which is still open, a company spokeswoman said. Investors in the funding deal include Star Ventures, Bessemer Venture Partners, Columbia Capital and Highland Capital Partners. Mangrove's products combine packet and circuit-switched technology and are designed to support multiple services over any transport infrastructure. The company has raised a total of about $53 million to date.


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