Startup SeRIQA Networks has raised $1 million, in the form of a loan convertible into shares, from Shalom Equity Fund, managed by founder and partner Jonathan Leitersdorf. The company value for the round will be set when the round takes place. The round is estimated to be worth several millions of dollars.
SeRIQA Networks, a manufacturer of traffic engineering network solutions, developed a system for Network Resource Planner (NRP). The system, developed for complex networks, helps manage, optimize and simulate existing and future networks and has already been sold to a number of operators.
SeRIQA Networks is also developing another product, which it claims will provide a real time integrated solution for major dynamic networks, enabling operators to improve network performance by 50%. The product is scheduled to be released in the first quarter of 2002.
SeRIQA Networks was founded in 1997 by Dr. Raphael Ben Ami, formerly of AT&T and Bell Laboratories, and a consultant to communications companies on heterogeneous network infrastructure. 22 workers are employed in the company's offices in Israel and New York.
Published by Israel's Business Arena on 14 November, 2001