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Laurel Networks was founded in 1999, and specialized in routers for telecommunications carriers. [1]
Funding was provided in four rounds the first two of which were:
Round 1: $12.3 million, led by New Enterprise Associates (NEA) and Rein Capital[citation needed]
Round 2: $60M, led by NEA, Trinity Ventures, Worldview Technology Partners and WorldCom Venture Fund[citation needed]
In 2005, after ultimately consuming $120M in venture capital funding, they were purchased by ECI Telecom for $88M, and formally renamed as the Data Networking Division within ECI.[2][3][4]
Their primary product is the ST Series of service edge routers. ECI considers the router's ability to do complicated traffic shaping, monitoring and QoS at line rate to be its primary competitive advantage.
They are located in Robinson Township in the Pittsburgh region. They began the startup initially in Sewickley, Pennsylvania.
On November 8, 2011, it was announced that the Pittsburgh office would be closed and that all employees would be laid off by September 30, 2012.[citation needed]
References
edit- ^ "Laurel Networks closes $20 million third round of funding and signs reseller agreement with primary investor CIENA". Lightwave. 2003-09-10. Retrieved 2024-11-21.
- ^ "ECI Telecom Completes Acquisition of Laurel Networks; Positions ECI as a Solution Provider for Next-Generation IP/MPLS Networks". www.businesswire.com. 2005-06-06. Retrieved 2020-01-28.
- ^ "ECI buys Laurel Networks for $88M". Lightwave. 2005-05-16. Retrieved 2020-01-28.
- ^ "ECI Acquires Laurel Networks - Expands IP Portfolio". www.fiberopticsonline.com. Retrieved 2020-01-28.
External links
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