Kagoor Networks today announced that it has raised $9 million in its latest funding round led by Accel Partners and Concord Ventures. This new round brings the total amount raised to over $40 million. Kagoor stated that it would use the funds to continue expanding its business.
Kagoor is a provider of VoIP session border control solutions for the service provider, carrier and enterprise markets. VoIP border control solutions address the need for security, service assurance, interoperability, management and ROI when deploying VoIP networks.
The Yankee Group recently forecasted the session border controllers market to reach $1.2 billion by 2008.
Kagoor has a client base of almost 100 customers worldwide including: Singapore Telecommunications Ltd. (SingTel), Covad, Kintetsu Cable Network, Elitel and a host of other leading carriers, service providers and MSOs. Kagoor's partners comprise some of the leading companies in VoIP including Fujitsu, NEC, Siemens, Avaya, Broadsoft and Sylantro.
In conjunction with the current round of financing, Joe Golden from Accel has joined Kagoor's board of directors. Golden brings more than 20 years of experience in the telecommunications and networking industry, including senior management positions at Cisco and a number of successful start up companies.
Golden said, "Concord and Accel believe that the Kagoor investment represents a significant opportunity, given its leadership position in the high-growth VoIP market."
"The increasing momentum for VoIP and for session border control combined with Kagoor's demonstrated ability to address this opportunity were key to our investment," said Concord Ventures general partner Avi Domoshevizki.
Kagoor Networks CEO Opher Kahane said he was very pleased that Accel Partners and Concord Ventures had decided to join the company's "already very prestigious group of investors". These include venture capital firms ComVentures, VantagePoint Venture Partners, Siemens, and TDF Ventures (Singapore), as well as Ed Kozel, former CTO at Cisco Systems and Raj Singh, founder of Cerent and Siara.
Last week, Kagoor announced that SingTel had deployed Kagoor’s VoiceFlow series of session border controllers to deliver its i-PhoneNet, an advanced IP Centrex voice over packet (VoP/VoIP) service.
Published by Globes [online] - www.globes.co.il - on Monday, September 13, 2004